Iridium Communications Inc (NASDAQ:IRDM) to Issue Quarterly Dividend of $0.15

Iridium Communications Inc (NASDAQ:IRDM) declared a quarterly dividend on Wednesday, May 20th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.15 per share by the technology company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 15th.

Iridium Communications has a dividend payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Iridium Communications to earn $1.23 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 48.8%.

Iridium Communications Stock Performance

IRDM stock traded up $0.42 during trading on Thursday, reaching $45.70. 2,010,224 shares of the company’s stock were exchanged, compared to its average volume of 2,323,810. The company has a quick ratio of 2.21, a current ratio of 2.85 and a debt-to-equity ratio of 3.74. Iridium Communications has a 1-year low of $15.65 and a 1-year high of $47.26. The company’s fifty day moving average price is $34.84 and its 200-day moving average price is $24.71. The firm has a market cap of $4.83 billion, a PE ratio of 46.16, a P/E/G ratio of 2.97 and a beta of 0.79.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Thursday, April 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). The business had revenue of $219.06 million for the quarter, compared to analyst estimates of $218.39 million. Iridium Communications had a return on equity of 22.76% and a net margin of 12.05%.The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. On average, research analysts expect that Iridium Communications will post 1.04 EPS for the current fiscal year.

Iridium Communications Company Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.