Iridium Communications Inc (IRDM) to Issue Quarterly Dividend of $0.15 on June 30th

Iridium Communications Inc (NASDAQ:IRDM) announced a quarterly dividend on Wednesday, May 20th. Shareholders of record on Monday, June 15th will be given a dividend of 0.15 per share by the technology company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, June 15th.

Iridium Communications has a payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Iridium Communications to earn $1.23 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 48.8%.

Iridium Communications Price Performance

NASDAQ IRDM opened at $45.70 on Friday. The stock has a market capitalization of $4.83 billion, a P/E ratio of 46.16, a P/E/G ratio of 3.08 and a beta of 0.79. Iridium Communications has a 1 year low of $15.65 and a 1 year high of $47.26. The business’s fifty day moving average is $35.25 and its two-hundred day moving average is $24.89. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.21 and a current ratio of 2.85.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Thursday, April 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.07). The company had revenue of $219.06 million during the quarter, compared to the consensus estimate of $218.39 million. Iridium Communications had a net margin of 12.05% and a return on equity of 22.76%. Iridium Communications’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 EPS. On average, research analysts forecast that Iridium Communications will post 1.04 earnings per share for the current fiscal year.

About Iridium Communications

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.