Iridium Communications Inc (IRDM) to Issue Quarterly Dividend of $0.15 on September 30th

Iridium Communications Inc (NASDAQ:IRDM) announced a quarterly dividend on Monday, August 10th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.15 per share by the technology company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, September 15th.

Iridium Communications has a payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Iridium Communications to earn $1.26 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 47.6%.

Iridium Communications Stock Up 0.1%

Shares of Iridium Communications stock traded up $0.04 during trading hours on Wednesday, hitting $49.42. The company had a trading volume of 215,457 shares, compared to its average volume of 2,357,292. Iridium Communications has a twelve month low of $15.65 and a twelve month high of $57.18. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.78 and a quick ratio of 2.31. The company’s 50-day moving average is $47.94 and its two-hundred day moving average is $37.42. The company has a market cap of $5.24 billion, a P/E ratio of 56.16, a price-to-earnings-growth ratio of 3.99 and a beta of 0.88.

Iridium Communications (NASDAQ:IRDM) last released its earnings results on Wednesday, July 22nd. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). The firm had revenue of $225.24 million during the quarter, compared to analysts’ expectations of $220.32 million. Iridium Communications had a net margin of 10.55% and a return on equity of 22.57%. Iridium Communications’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. Analysts anticipate that Iridium Communications will post 0.95 earnings per share for the current fiscal year.

Institutional Trading of Iridium Communications

Several hedge funds have recently added to or reduced their stakes in IRDM. Vanguard Group Inc. increased its stake in shares of Iridium Communications by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 10,157,227 shares of the technology company’s stock valued at $176,533,000 after purchasing an additional 677,258 shares during the last quarter. Silver Heights Capital Management Inc grew its stake in shares of Iridium Communications by 1.2% during the fourth quarter. Silver Heights Capital Management Inc now owns 5,251,133 shares of the technology company’s stock valued at $91,265,000 after buying an additional 61,430 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Iridium Communications by 130.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396,642 shares of the technology company’s stock valued at $7,044,000 after acquiring an additional 224,322 shares in the last quarter. Maxi Investments CY Ltd bought a new position in shares of Iridium Communications during the fourth quarter valued at $7,369,000. Finally, Daiwa Securities Group Inc. grew its position in Iridium Communications by 67.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 112,700 shares of the technology company’s stock worth $1,959,000 after purchasing an additional 45,400 shares during the period. Institutional investors and hedge funds own 84.36% of the company’s stock.

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.