Cogent Communications Holdings, Inc. (NASDAQ:CCOI) to Issue Quarterly Dividend of $0.02

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) declared a quarterly dividend on Friday, May 1st. Stockholders of record on Monday, May 18th will be given a dividend of 0.02 per share by the technology company on Tuesday, June 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, May 18th.

Cogent Communications has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Cogent Communications has a dividend payout ratio of -3.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cogent Communications to earn ($3.30) per share next year, which means the company may not be able to cover its $0.08 annual dividend with an expected future payout ratio of -2.4%.

Cogent Communications Stock Up 2.3%

CCOI stock opened at $16.48 on Friday. Cogent Communications has a twelve month low of $14.82 and a twelve month high of $54.37. The stock has a market cap of $825.29 million, a P/E ratio of -4.64 and a beta of 0.85. The business’s 50-day moving average price is $20.16 and its 200-day moving average price is $22.43.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Monday, May 4th. The technology company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.20. Cogent Communications had a negative net margin of 17.53% and a negative return on equity of 842.48%. The company had revenue of $239.19 million for the quarter, compared to analysts’ expectations of $241.31 million. During the same quarter in the previous year, the company earned ($1.09) EPS. Cogent Communications’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Cogent Communications will post -3.9 earnings per share for the current fiscal year.

Cogent Communications Company Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.