Millicom International Cellular SA (NASDAQ:TIGO) Announces Quarterly Dividend of $0.75

Millicom International Cellular SA (NASDAQ:TIGO) announced a quarterly dividend on Wednesday, May 21st. Stockholders of record on Thursday, January 8th will be given a dividend of 0.75 per share by the technology company on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Thursday, January 8th.

Millicom International Cellular has decreased its dividend payment by an average of 1.0%annually over the last three years. 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 decline. Equities research analysts expect Millicom International Cellular to earn $2.84 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 105.6%.

Millicom International Cellular Stock Up 1.2%

Shares of NASDAQ:TIGO opened at $57.22 on Tuesday. The firm has a market capitalization of $9.85 billion, a PE ratio of 8.76 and a beta of 0.94. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 0.93. Millicom International Cellular has a 52-week low of $23.61 and a 52-week high of $57.28. The firm has a fifty day moving average of $51.95 and a 200 day moving average of $46.83.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.21). Millicom International Cellular had a net margin of 19.58% and a return on equity of 10.81%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. The company’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TIGO shares. UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and raised their price objective for the company from $39.50 to $49.00 in a research note on Thursday, September 11th. Weiss Ratings restated a “buy (b)” rating on shares of Millicom International Cellular in a report on Wednesday, October 8th. Scotiabank lifted their price target on Millicom International Cellular from $46.10 to $46.80 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. boosted their price objective on Millicom International Cellular from $55.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Finally, Zacks Research upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.47.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.