Rogers Communication, Inc. (RCI) to Issue Quarterly Dividend of $0.48 on January 2nd

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Stockholders of record on Monday, December 11th will be paid a dividend of 0.48 per share by the Wireless communications provider on Tuesday, January 2nd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Friday, December 8th.

Rogers Communication has decreased its dividend by an average of 4.6% per year over the last three years. Rogers Communication has a dividend payout ratio of 70.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Rogers Communication to earn $3.11 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 61.7%.

Rogers Communication (NYSE:RCI) opened at $52.22 on Friday. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.41 and a quick ratio of 0.38. Rogers Communication has a 12-month low of $37.81 and a 12-month high of $54.95. The stock has a market cap of $26,883.38, a P/E ratio of 20.64, a PEG ratio of 3.84 and a beta of 0.92.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, October 19th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.19). Rogers Communication had a return on equity of 30.40% and a net margin of 9.20%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the previous year, the firm earned $0.83 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. research analysts forecast that Rogers Communication will post 2.72 earnings per share for the current year.

RCI has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Tuesday, October 24th. TheStreet raised shares of Rogers Communication from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Bank of America initiated coverage on shares of Rogers Communication in a research report on Tuesday, November 21st. They issued a “buy” rating on the stock. Morgan Stanley boosted their target price on shares of Rogers Communication from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday, November 17th. Finally, Barclays boosted their target price on shares of Rogers Communication from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.80.

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About Rogers Communication

Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.

Dividend History for Rogers Communication (NYSE:RCI)

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