Shenandoah Telecommunications Co (NASDAQ:SHEN) to Issue Annual Dividend of $0.12

Shenandoah Telecommunications Co (NASDAQ:SHEN) announced an annual dividend on Wednesday, October 21st. Shareholders of record on Monday, November 2nd will be given a dividend of $0.12 per share by the utilities provider on Tuesday, December 1st. This represents a yield of 123.0%. The ex-dividend date is Monday, November 2nd. This is a 9.1% increase from Shenandoah Telecommunications’s previous annual dividend of $0.11.

Shenandoah Telecommunications has decreased its dividend by an average of 0.2% per year over the last three years and has increased its dividend every year for the last 3 years. Shenandoah Telecommunications has a dividend payout ratio of -16.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Shenandoah Telecommunications to earn ($0.60) per share next year, which means the company may not be able to cover its $0.11 annual dividend with an expected future payout ratio of -18.3%.

Shenandoah Telecommunications Price Performance

Shares of SHEN traded up $0.31 during trading hours on Thursday, reaching $10.07. 106,152 shares of the stock traded hands, compared to its average volume of 467,753. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.83. Shenandoah Telecommunications has a 52-week low of $9.53 and a 52-week high of $17.34. The company’s 50-day moving average price is $11.71 and its two-hundred day moving average price is $13.62. The company has a market cap of $557.30 million, a P/E ratio of -12.97 and a beta of 0.76.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.11. The firm had revenue of $93.46 million for the quarter, compared to analysts’ expectations of $92.83 million. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. On average, analysts anticipate that Shenandoah Telecommunications will post -0.85 earnings per share for the current year.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, also known as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company delivers broadband communications services to residential and commercial customers, with a focus on high-speed internet, fiber-optic connectivity, video and voice services.

Shentel operates its Glo Fiber network in selected communities and provides broadband services through its legacy cable and fiber networks. Its service territory primarily includes markets in Virginia, West Virginia, Maryland and Pennsylvania.