IDT Corporation (NYSE:IDT) Announces Dividend Increase – $0.07 Per Share

IDT Corporation (NYSE:IDT) declared a quarterly dividend on Monday, March 9th. Stockholders of record on Thursday, March 19th will be given a dividend of 0.07 per share by the utilities provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, March 19th. This is a 16.7% increase from IDT’s previous quarterly dividend of $0.06.

IDT has a payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings.

IDT Stock Performance

Shares of IDT stock traded down $1.88 on Wednesday, hitting $49.78. The stock had a trading volume of 154,572 shares, compared to its average volume of 149,104. The stock’s 50 day moving average is $49.90 and its 200-day moving average is $52.76. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 15.45 and a beta of 0.76. IDT has a 52-week low of $45.35 and a 52-week high of $71.12.

IDT (NYSE:IDT) last released its quarterly earnings results on Tuesday, March 10th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.10. IDT had a net margin of 6.53% and a return on equity of 27.12%. The firm had revenue of $320.52 million for the quarter, compared to the consensus estimate of $302.00 million.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IDT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a research report on Monday, December 29th. Wall Street Zen lowered IDT from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

IDT Company Profile

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.