Iridium Communications Inc (NASDAQ:IRDM) Declares $0.15 Quarterly Dividend

Iridium Communications Inc (NASDAQ:IRDM) declared a quarterly dividend on Monday, August 10th. Investors of record on Tuesday, September 15th will be paid a dividend of 0.15 per share by the technology company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, September 15th.

Iridium Communications has a dividend payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Iridium Communications to earn $1.26 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 47.6%.

Iridium Communications Stock Performance

IRDM stock traded up $0.04 during midday trading on Wednesday, reaching $49.42. The stock had a trading volume of 190,215 shares, compared to its average volume of 2,356,919. The firm has a fifty day simple moving average of $47.94 and a two-hundred day simple moving average of $37.42. Iridium Communications has a 52-week low of $15.65 and a 52-week high of $57.18. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.31 and a current ratio of 2.78. The stock has a market cap of $5.24 billion, a PE ratio of 56.16, a P/E/G ratio of 3.99 and a beta of 0.88.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The firm had revenue of $225.24 million for the quarter, compared to analysts’ expectations of $220.32 million. Iridium Communications had a net margin of 10.55% and a return on equity of 22.57%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. As a group, equities research analysts anticipate that Iridium Communications will post 0.95 EPS for the current 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.