News Corporation (NASDAQ:NWSA) Plans $0.10 Dividend

News Corporation (NASDAQ:NWSA) declared a dividend on Wednesday, August 5th. Investors of record on Wednesday, September 9th will be given a dividend of 0.10 per share on Wednesday, October 7th. This represents a yield of 68.0%. The ex-dividend date is Wednesday, September 9th.

News has a payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect News to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 16.5%.

News Price Performance

Shares of NASDAQ:NWSA traded up $0.38 during midday trading on Thursday, hitting $29.43. The company had a trading volume of 3,644,128 shares, compared to its average volume of 4,549,815. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. The business’s 50-day simple moving average is $26.78 and its 200-day simple moving average is $25.66. The stock has a market cap of $16.11 billion, a price-to-earnings ratio of 14.63 and a beta of 0.88. News has a twelve month low of $22.20 and a twelve month high of $31.61.

News (NASDAQ:NWSA) last issued its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14. News had a return on equity of 6.12% and a net margin of 12.92%.The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company earned $0.19 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts predict that News will post 1.06 earnings per share for the current year.

Hedge Funds Weigh In On News

A number of large investors have recently modified their holdings of NWSA. CYBER HORNET ETFs LLC purchased a new position in News in the second quarter worth $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in News during the third quarter worth about $31,000. Advisory Services Network LLC acquired a new position in News during the third quarter worth about $35,000. Brown Brothers Harriman & Co. increased its stake in News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after purchasing an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of News by 561.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after buying an additional 1,470 shares in the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.