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

Iridium Communications Inc (NASDAQ:IRDM) declared a quarterly dividend on Wednesday, May 20th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.15 per share by the technology company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, June 15th.

Iridium Communications has a dividend payout ratio of 45.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Iridium Communications to earn $1.23 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 48.8%.

Iridium Communications Stock Performance

NASDAQ IRDM traded up $0.42 during trading on Thursday, reaching $45.70. 2,010,224 shares of the company’s stock were exchanged, compared to its average volume of 2,323,810. The business has a 50 day moving average price of $34.84 and a 200-day moving average price of $24.71. The stock has a market capitalization of $4.83 billion, a P/E ratio of 46.16, a PEG ratio of 2.97 and a beta of 0.79. The company has a debt-to-equity ratio of 3.74, a current ratio of 2.85 and a quick ratio of 2.21. Iridium Communications has a fifty-two week low of $15.65 and a fifty-two week high of $47.26.

Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, April 23rd. The technology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.07). Iridium Communications had a net margin of 12.05% and a return on equity of 22.76%. The firm had revenue of $219.06 million during the quarter, compared to analyst estimates of $218.39 million. During the same period in the previous year, the company posted $0.27 EPS. Iridium Communications’s revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts forecast that Iridium Communications will post 1.04 earnings per share for the current fiscal 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.