Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Announces $0.02 Quarterly Dividend

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) announced a quarterly dividend on Friday, February 20th. Shareholders of record on Friday, March 6th will be given a dividend of 0.02 per share by the technology company on Friday, March 20th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, March 6th.

Cogent Communications has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Cogent Communications has a payout ratio of -3.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cogent Communications to earn ($2.63) per share next year, which means the company may not be able to cover its $0.08 annual dividend with an expected future payout ratio of -3.0%.

Cogent Communications Trading Down 29.4%

Shares of CCOI stock traded down $7.73 on Friday, hitting $18.58. The company had a trading volume of 7,028,475 shares, compared to its average volume of 1,114,275. Cogent Communications has a twelve month low of $15.96 and a twelve month high of $82.00. The company has a debt-to-equity ratio of 49.06, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market cap of $912.67 million, a P/E ratio of -4.55 and a beta of 0.81. The stock’s 50-day moving average is $23.53 and its two-hundred day moving average is $30.36.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Friday, February 20th. The technology company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.45. The business had revenue of $240.52 million for the quarter, compared to analysts’ expectations of $243.82 million. Cogent Communications had a negative return on equity of 208.70% and a negative net margin of 19.72%.The firm’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.91) earnings per share. On average, equities research analysts anticipate that Cogent Communications will post -4.55 earnings per share for the current fiscal year.

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.