Nokia Corporation (NOK) to Issue Quarterly Dividend of $0.03 on November 10th

Nokia Corporation (NYSE:NOK) declared a quarterly dividend on Friday, February 27th. Investors of record on Tuesday, October 27th will be paid a dividend of $0.0337 per share by the technology company on Tuesday, November 10th. This represents a $0.13 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, October 27th. This is a 26.1% decrease from Nokia’s previous quarterly dividend of $0.0455.

Nokia has a payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Nokia to earn $0.48 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 16.7%.

Nokia Stock Up 3.1%

Shares of NYSE:NOK opened at $8.12 on Friday. The firm has a market capitalization of $46.64 billion, a PE ratio of 50.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.19. Nokia has a 1 year low of $5.86 and a 1 year high of $17.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.50 and a quick ratio of 1.22. The firm’s 50-day moving average is $10.10 and its two-hundred day moving average is $11.43.

Nokia (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 22nd. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Nokia had a net margin of 3.80% and a return on equity of 10.48%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts predict that Nokia will post 0.40 EPS for the current year.

Institutional Investors Weigh In On Nokia

A number of large investors have recently modified their holdings of the company. ARGA Investment Management LP lifted its position in shares of Nokia by 166.4% during the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after purchasing an additional 12,734,021 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Nokia by 131.3% in the first quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company’s stock valued at $106,890,000 after buying an additional 7,546,000 shares during the last quarter. Annex Advisory Services LLC increased its holdings in Nokia by 1,710.9% in the third quarter. Annex Advisory Services LLC now owns 4,468,371 shares of the technology company’s stock valued at $45,309,000 after buying an additional 4,221,629 shares during the last quarter. Troluce Capital Advisors LLC acquired a new stake in Nokia in the first quarter valued at $20,100,000. Finally, TSP Capital Management Group LLC raised its stake in Nokia by 1.2% in the first quarter. TSP Capital Management Group LLC now owns 2,495,192 shares of the technology company’s stock valued at $20,061,000 after buying an additional 28,600 shares in the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

About Nokia

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company’s business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.