Millicom International Cellular SA (NASDAQ:TIGO) Declares $1.25 Special Dividend

Millicom International Cellular SA (NASDAQ:TIGO) declared a special dividend on Wednesday, May 21st. Stockholders of record on Wednesday, April 8th will be given a dividend of 1.25 per share by the technology company on Wednesday, April 15th. This represents a dividend yield of 620.0%. The ex-dividend date of this dividend is Wednesday, April 8th.

Millicom International Cellular has a dividend payout ratio of 86.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Millicom International Cellular to earn $2.84 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 105.6%.

Millicom International Cellular Price Performance

NASDAQ:TIGO opened at $79.64 on Monday. Millicom International Cellular has a one year low of $26.35 and a one year high of $79.72. The stock has a market cap of $13.46 billion, a PE ratio of 10.15 and a beta of 0.87. The stock has a 50 day moving average price of $69.37 and a 200 day moving average price of $57.63. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88.

Millicom International Cellular (NASDAQ:TIGO) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.05 by $0.45. Millicom International Cellular had a net margin of 22.62% and a return on equity of 17.07%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts expect that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Millicom International Cellular

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in Millicom International Cellular by 48.1% in the 1st quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after buying an additional 14,990 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Millicom International Cellular by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock worth $290,000 after acquiring an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Millicom International Cellular during the 1st quarter worth about $2,188,000. Goldman Sachs Group Inc. acquired a new stake in shares of Millicom International Cellular during the first quarter valued at approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Millicom International Cellular during the 1st quarter valued at $8,504,000.

About Millicom International Cellular

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.