Millicom International Cellular SA (TIGO) to Issue Special Dividend of $1.25 on April 15th

Millicom International Cellular SA (NASDAQ:TIGO) announced a special dividend on Wednesday, May 21st. Shareholders of record on Wednesday, April 8th will be given a dividend of 1.25 per share by the technology company on Wednesday, April 15th. This represents a dividend yield of 620.0%. The ex-dividend date of this dividend is Wednesday, April 8th.

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 tumble. Equities 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 Price Performance

NASDAQ:TIGO opened at $79.64 on Monday. The business’s 50-day simple moving average is $69.37 and its two-hundred day simple moving average is $57.63. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. Millicom International Cellular has a 52 week low of $26.35 and a 52 week high of $79.72. The stock has a market cap of $13.46 billion, a PE ratio of 10.15 and a beta of 0.87.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. As a group, analysts forecast that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TIGO. Morgan Stanley restated a “positive” rating and issued a $55.00 price target on shares of Millicom International Cellular in a research report on Thursday, February 26th. Zacks Research cut shares of Millicom International Cellular from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Millicom International Cellular in a report on Thursday, January 22nd. Scotiabank increased their price target on Millicom International Cellular from $43.00 to $51.20 and gave the stock a “sector underperform” rating in a report on Monday, March 30th. Finally, UBS Group upgraded shares of Millicom International Cellular from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $70.00 in a report on Thursday, January 15th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.64.

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.