Royalty Pharma plc (NASDAQ:RPRX) Announces Dividend Increase – $0.22 Per Share

Royalty Pharma plc (NASDAQ:RPRX) announced a quarterly dividend on Thursday, January 9th,Wall Street Journal reports. Shareholders of record on Friday, February 21st will be paid a dividend of 0.22 per share by the biopharmaceutical company on Monday, March 10th. This represents a $0.88 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21.

Royalty Pharma has increased its dividend by an average of 7.3% annually over the last three years. Royalty Pharma has a payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Royalty Pharma to earn $4.86 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 18.1%.

Royalty Pharma Stock Up 1.5 %

RPRX stock opened at $32.85 on Wednesday. The business’s 50-day moving average price is $28.70 and its 200-day moving average price is $27.82. The stock has a market cap of $19.35 billion, a P/E ratio of 22.66, a PEG ratio of 2.24 and a beta of 0.49. Royalty Pharma has a twelve month low of $24.05 and a twelve month high of $32.89. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. On average, equities research analysts forecast that Royalty Pharma will post 4.49 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RPRX shares. Citigroup cut their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $41.67.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.