PLDT Inc. (NYSE:PHI) announced a semiannual dividend on Monday, August 14th, Wall Street Journal reports. Investors of record on Thursday, August 24th will be given a dividend of 0.9411 per share by the technology company on Monday, September 18th. This represents a dividend yield of 5.57%. The ex-dividend date of this dividend is Tuesday, August 22nd. This is an increase from PLDT’s previous semiannual dividend of $0.56.
PLDT has decreased its dividend payment by an average of 7.8% annually over the last three years. PLDT has a payout ratio of 77.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect PLDT to earn $1.97 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 95.4%.
Shares of PLDT (NYSE:PHI) opened at 34.34 on Thursday. The company has a 50 day moving average of $33.80 and a 200-day moving average of $33.19. The firm has a market cap of $7.43 billion, a PE ratio of 15.57 and a beta of 1.01. PLDT has a 12-month low of $25.50 and a 12-month high of $40.49.
Several equities research analysts have recently commented on the stock. Macquarie upgraded shares of PLDT from a “neutral” rating to an “outperform” rating in a research note on Friday, May 26th. BidaskClub downgraded shares of PLDT from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded shares of PLDT from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. TheStreet upgraded shares of PLDT from a “d+” rating to a “c-” rating in a research note on Monday, June 5th. Finally, Deutsche Bank AG downgraded shares of PLDT from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $39.00.
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PLDT Company Profile
PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.
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