Iridium Communications Inc (NASDAQ:IRDM) Announces $0.15 Quarterly Dividend

Iridium Communications Inc (NASDAQ:IRDM) announced a quarterly dividend on Monday, August 10th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.15 per share by the technology company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 15th.

Iridium Communications has a payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Iridium Communications to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 47.6%.

Iridium Communications Price Performance

Shares of IRDM stock traded up $0.04 during trading hours on Wednesday, hitting $49.42. 190,215 shares of the company’s stock were exchanged, compared to its average volume of 2,356,919. Iridium Communications has a fifty-two week low of $15.65 and a fifty-two week high of $57.18. The firm has a market cap of $5.24 billion, a P/E ratio of 56.16, a P/E/G ratio of 3.99 and a beta of 0.88. The company has a quick ratio of 2.31, a current ratio of 2.78 and a debt-to-equity ratio of 3.70. The firm has a 50 day moving average of $47.94 and a two-hundred day moving average of $37.42.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). The company had revenue of $225.24 million during the quarter, compared to analyst estimates of $220.32 million. Iridium Communications had a net margin of 10.55% and a return on equity of 22.57%. Iridium Communications’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 EPS. Sell-side analysts forecast that Iridium Communications will post 0.95 EPS for the current year.

Iridium Communications Company Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.