IDT Corporation (IDT) To Go Ex-Dividend on June 9th

IDT Corporation (NYSE:IDT) announced a quarterly dividend on Thursday, May 28th. Shareholders of record on Tuesday, June 9th will be given a dividend of 0.07 per share by the utilities provider on Thursday, June 18th. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 9th.

IDT has a dividend payout ratio of 8.2% meaning its dividend is sufficiently covered by earnings.

IDT Stock Performance

NYSE:IDT opened at $56.11 on Friday. IDT has a one year low of $45.72 and a one year high of $71.12. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 17.16 and a beta of 0.68. The firm’s fifty day moving average is $51.78 and its two-hundred day moving average is $50.57.

IDT (NYSE:IDT) last posted its quarterly earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.89 by $0.05. IDT had a net margin of 6.41% and a return on equity of 25.07%. The company had revenue of $315.71 million for the quarter, compared to analyst estimates of $308.00 million.

Insider Transactions at IDT

In other IDT news, CFO Marcelo Fischer sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $50.50, for a total value of $252,500.00. Following the completion of the transaction, the chief financial officer owned 56,147 shares in the company, valued at approximately $2,835,423.50. This represents a 8.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Menachem Ash sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $51.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the executive vice president owned 32,243 shares of the company’s stock, valued at approximately $1,644,393. This trade represents a 38.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 25.41% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of IDT in the third quarter worth about $96,000. Gabelli Funds LLC acquired a new position in shares of IDT during the 2nd quarter worth about $239,000. Entropy Technologies LP acquired a new position in shares of IDT during the 1st quarter worth about $264,000. State of Tennessee Department of Treasury acquired a new position in shares of IDT during the 4th quarter worth about $268,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of IDT during the 3rd quarter worth about $399,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

About IDT

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.