Warner Music Group Corp. (WMG) to Issue Quarterly Dividend of $0.20 on December 1st

Warner Music Group Corp. (NASDAQ:WMG) declared a quarterly dividend on Monday, November 9th. Shareholders of record on Friday, November 20th will be given a dividend of $0.20 per share on Tuesday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, November 20th.

Warner Music Group has increased its dividend by an average of 0.4% per year over the last three years and has raised its dividend every year for the last 4 years. Warner Music Group has a dividend payout ratio of 58.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Warner Music Group to earn $1.77 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 45.2%.

Warner Music Group Stock Up 0.2%

Shares of WMG opened at $31.84 on Wednesday. Warner Music Group has a fifty-two week low of $23.34 and a fifty-two week high of $35.42. The company’s fifty day moving average is $29.22 and its two-hundred day moving average is $28.64. The firm has a market cap of $16.66 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 0.44 and a beta of 1.34. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 4.94.

Analysts Set New Price Targets

WMG has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating and set a $36.00 price target on shares of Warner Music Group in a research report on Thursday, August 6th. Stonex Financial raised Warner Music Group to a “strong-buy” rating in a research note on Wednesday, October 14th. Guggenheim reissued a “buy” rating and set a $36.00 target price on shares of Warner Music Group in a research report on Tuesday, September 29th. Wall Street Zen cut shares of Warner Music Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings upgraded shares of Warner Music Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.30.

About Warner Music Group

Warner Music Group is a global music entertainment company with two main businesses: recorded music and music publishing. Its recorded music operations discover and develop artists, release and market recordings, and distribute music through digital services and physical formats. The company works with artists across a range of genres and career stages. Through its recorded music labels, including Atlantic Records, Warner Records and Elektra Records, Warner Music Group supports artists with services such as artist development, marketing and distribution.