Broadcom Inc. (NASDAQ:AVGO) Announces $0.65 Quarterly Dividend

Broadcom Inc. (NASDAQ:AVGO) announced a quarterly dividend on Wednesday, June 3rd. Investors of record on Monday, June 22nd will be paid a dividend of 0.65 per share by the semiconductor manufacturer on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, June 22nd.

Broadcom has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 15 years. Broadcom has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Broadcom to earn $16.51 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 15.7%.

Broadcom Stock Performance

Shares of Broadcom stock opened at $479.23 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The firm has a market cap of $2.27 trillion, a P/E ratio of 93.60, a P/E/G ratio of 0.99 and a beta of 1.41. The firm has a 50 day simple moving average of $392.87 and a 200 day simple moving average of $361.19. Broadcom has a fifty-two week low of $241.11 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. Sell-side analysts predict that Broadcom will post 9.91 earnings per share for the current fiscal year.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.