Shenandoah Telecommunications Co (SHEN) to Distribute Annual Dividend of $0.12 on December 1st

Shenandoah Telecommunications Co (NASDAQ:SHEN) declared an annual dividend on Tuesday, October 20th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.12 per share by the utilities provider on Tuesday, December 1st. This represents a dividend yield of 123.0%. The ex-dividend date is Monday, November 2nd. This is a 9.1% increase from Shenandoah Telecommunications’s previous annual dividend of $0.11.

Shenandoah Telecommunications has decreased its dividend payment by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Shenandoah Telecommunications has a dividend payout ratio of -17.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Shenandoah Telecommunications to earn ($0.60) per share next year, which means the company may not be able to cover its $0.12 annual dividend with an expected future payout ratio of -20.0%.

Shenandoah Telecommunications Stock Performance

Shares of SHEN stock opened at $10.17 on Friday. The firm has a 50 day moving average of $11.36 and a two-hundred day moving average of $13.40. The stock has a market capitalization of $563.07 million, a PE ratio of -13.21 and a beta of 0.76. The company has a quick ratio of 0.85, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. Shenandoah Telecommunications has a 52 week low of $9.13 and a 52 week high of $17.34.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Wednesday, October 28th. The utilities provider reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $93.93 million for the quarter, compared to the consensus estimate of $94.10 million. Shenandoah Telecommunications had a negative net margin of 10.68% and a negative return on equity of 4.58%. On average, research analysts predict that Shenandoah Telecommunications will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of large investors have recently added to or reduced their stakes in SHEN. Gabelli Funds LLC lifted its stake in Shenandoah Telecommunications by 0.5% in the 1st quarter. Gabelli Funds LLC now owns 199,530 shares of the utilities provider’s stock worth $3,077,000 after purchasing an additional 1,000 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Shenandoah Telecommunications by 71.7% during the third quarter. Versant Capital Management Inc now owns 3,675 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 1,535 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Shenandoah Telecommunications by 1.8% during the first quarter. Quantinno Capital Management LP now owns 97,435 shares of the utilities provider’s stock valued at $1,502,000 after purchasing an additional 1,762 shares in the last quarter. Graves Light Lenhart Wealth Inc. increased its holdings in shares of Shenandoah Telecommunications by 11.4% in the second quarter. Graves Light Lenhart Wealth Inc. now owns 24,140 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 2,475 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Shenandoah Telecommunications by 17.2% in the first quarter. PNC Financial Services Group Inc. now owns 23,592 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 3,465 shares during the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, also known as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company delivers broadband communications services to residential and commercial customers, with a focus on high-speed internet, fiber-optic connectivity, video and voice services.

Shentel operates its Glo Fiber network in selected communities and provides broadband services through its legacy cable and fiber networks. Its service territory primarily includes markets in Virginia, West Virginia, Maryland and Pennsylvania.