Meta Platforms, Inc. (META) to Distribute Quarterly Dividend of $0.53 on September 28th

Meta Platforms, Inc. (NASDAQ:META) announced a quarterly dividend on Thursday, September 10th. Shareholders of record on Monday, September 21st will be given a dividend of 0.525 per share by the social networking company on Monday, September 28th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, September 21st.

Meta Platforms has a dividend payout ratio of 7.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Meta Platforms to earn $34.36 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 6.1%.

Meta Platforms Trading Down 2.4%

Shares of NASDAQ:META opened at $665.75 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $606.33 and its 200 day moving average price is $609.79. The company has a market cap of $1.70 trillion, a PE ratio of 25.08, a P/E/G ratio of 1.19 and a beta of 1.25. Meta Platforms has a fifty-two week low of $520.26 and a fifty-two week high of $790.80.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 29th. The social networking company reported $6.18 EPS for the quarter, missing the consensus estimate of $7.19 by ($1.01). The firm had revenue of $60.80 billion during the quarter, compared to the consensus estimate of $60.22 billion. Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.Meta Platforms’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the company posted $7.14 EPS. Sell-side analysts anticipate that Meta Platforms will post 27.93 earnings per share for the current year.

About Meta Platforms

Meta Platforms, Inc develops technologies that help people connect, communicate and build communities online. The company’s principal products include Facebook, Instagram, Messenger, WhatsApp and Threads, which enable social networking, messaging, content sharing and digital communication.

Meta generates most of its business through advertising displayed across its family of apps. It also develops artificial intelligence technologies, business messaging tools and hardware and software through its Reality Labs division, including Quest virtual- and mixed-reality devices and related experiences.

The company was founded as Facebook in 2004 by Mark Zuckerberg and was renamed Meta Platforms in 2021 to reflect its broader focus on building the metaverse.