Millicom International Cellular SA (TIGO) to Issue Quarterly Dividend of $0.75 on October 15th

Millicom International Cellular SA (NASDAQ:TIGO) announced a quarterly dividend on Thursday, March 26th. Investors of record on Thursday, October 8th will be given a dividend of $0.75 per share by the technology company on Thursday, October 15th. This represents a $3.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, October 8th.

Millicom International Cellular has a dividend payout ratio of 86.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Millicom International Cellular to earn $4.34 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 69.1%.

Millicom International Cellular Stock Up 3.2%

TIGO stock opened at $91.17 on Tuesday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.51 and a current ratio of 0.53. The company has a 50 day moving average price of $93.74 and a two-hundred day moving average price of $88.36. The stock has a market capitalization of $15.41 billion, a P/E ratio of 23.02 and a beta of 0.93. Millicom International Cellular has a one year low of $44.88 and a one year high of $107.13.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Scotiabank lifted their target price on Millicom International Cellular from $52.40 to $60.10 and gave the stock a “sector underperform” rating in a report on Friday, August 7th. UBS Group upped their target price on shares of Millicom International Cellular from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $105.00 price objective (up from $100.00) on shares of Millicom International Cellular in a research report on Tuesday, August 18th. Royal Bank Of Canada set a $105.00 price objective on Millicom International Cellular in a research note on Tuesday, August 18th. Finally, Weiss Ratings cut Millicom International Cellular from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Millicom International Cellular has an average rating of “Hold” and an average target price of $85.68.

Millicom International Cellular Company Profile

Millicom International Cellular SA is a telecommunications and digital services company that operates under the Tigo brand. The company provides mobile voice and data services, fixed broadband, pay television, and other connectivity solutions to consumers and businesses in Latin America.

Millicom also offers digital financial services, including mobile money and payment products through Tigo Money in selected markets. Its business-to-business operations provide connectivity, cloud, cybersecurity, data center, and digital solutions to enterprises, governments, and other organizations.

Founded in 1990, Millicom has developed a telecommunications presence across Latin America, serving markets including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Paraguay.