Telecom Argentina SA (NYSE:TEO) declared a special dividend on Monday, March 12th, Wall Street Journal reports. Investors of record on Tuesday, March 20th will be paid a dividend of 0.7874 per share by the utilities provider on Wednesday, March 28th. This represents a yield of 4.36%. The ex-dividend date is Monday, March 19th. This is an increase from Telecom Argentina’s previous special dividend of $0.37.
Telecom Argentina has a dividend payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Telecom Argentina to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 43.3%.
Shares of Telecom Argentina (NYSE:TEO) traded down $0.72 on Tuesday, reaching $33.86. 61,188 shares of the company were exchanged, compared to its average volume of 212,849. Telecom Argentina has a twelve month low of $21.20 and a twelve month high of $40.19. The firm has a market cap of $4,330.00, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.04 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 0.83.
A hedge fund recently raised its stake in Telecom Argentina stock. State Street Corp raised its holdings in Telecom Argentina SA (NYSE:TEO) by 55.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,021 shares of the utilities provider’s stock after purchasing an additional 8,919 shares during the period. State Street Corp’s holdings in Telecom Argentina were worth $634,000 at the end of the most recent quarter. 8.17% of the stock is owned by institutional investors and hedge funds.
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Telecom Argentina Company Profile
Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).
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