Cogent Communications Holdings, Inc. (CCOI) to Issue Quarterly Dividend of $0.02 on March 20th

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) declared a quarterly dividend on Wednesday, February 18th. Investors 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 yield of 0.4%. The ex-dividend date is Friday, March 6th.

Cogent Communications has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Cogent Communications has a dividend payout ratio of -3.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Performance

Shares of CCOI stock opened at $21.63 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 49.06. Cogent Communications has a 12-month low of $15.96 and a 12-month high of $72.80. The business’s 50 day moving average is $23.02 and its two-hundred day moving average is $29.27. The company has a market capitalization of $1.08 billion, a P/E ratio of -5.68 and a beta of 0.84.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Friday, February 20th. The technology company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($1.09) by $0.45. The business had revenue of $240.52 million during the quarter, compared to the consensus estimate of $243.82 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 18.67%.The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.91) EPS. Analysts expect that Cogent Communications will post -4.55 EPS for the current fiscal year.

Cogent Communications Company Profile

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.