Uniti Group Inc. (NASDAQ:UNIT) declared a quarterly dividend on Tuesday, August 3rd, Zacks reports. Investors of record on Friday, September 17th will be paid a dividend of 0.15 per share by the real estate investment trust on Friday, October 1st. This represents a $0.60 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Thursday, September 16th.
Uniti Group has decreased its dividend payment by 75.0% over the last three years and has raised its dividend annually for the last 1 consecutive years. Uniti Group has a dividend payout ratio of 115.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Uniti Group to earn $1.64 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 36.6%.
Shares of Uniti Group stock opened at $12.89 on Wednesday. The firm has a fifty day moving average price of $12.15 and a 200 day moving average price of $11.40. Uniti Group has a 1 year low of $8.70 and a 1 year high of $13.45. The stock has a market cap of $3.01 billion, a PE ratio of 644.50 and a beta of 0.92.
Uniti Group Company Profile
Uniti Group, Inc is a real estate investment trust company, which is engaged in the acquisition and construction of mission infrastructure in the communications industry. It operates through the following business segments: Leasing, Fiber Infrastructure, Towers, Consumer CLEC, and Corporate. The Leasing segment represents the real estate investment trust operations of the company and includes the results from leasing business, Uniti leasing, which engages in the acquisition of mission-critical communications assets and leasing them to anchor customers on either and exclusive or shared-tenant basis.
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