IDT Corporation (NYSE:IDT) Declares Dividend Increase – $0.07 Per Share

IDT Corporation (NYSE:IDT) declared a quarterly dividend on Monday, March 9th. Investors of record on Thursday, March 19th will be given a dividend of 0.07 per share by the utilities provider on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, March 19th. This is a 16.7% increase from IDT’s previous quarterly dividend of $0.06.

IDT has a payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings.

IDT Stock Performance

NYSE IDT traded down $1.84 on Wednesday, hitting $49.81. 190,980 shares of the stock traded hands, compared to its average volume of 149,483. The business’s fifty day moving average is $49.90 and its two-hundred day moving average is $52.76. IDT has a 12 month low of $45.35 and a 12 month high of $71.12. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 15.37 and a beta of 0.76.

IDT (NYSE:IDT) last issued its earnings results on Tuesday, March 10th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.10. IDT had a return on equity of 27.12% and a net margin of 6.53%.The firm had revenue of $320.52 million for the quarter, compared to analyst estimates of $302.00 million.

About IDT

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.