Millicom International Cellular SA (NASDAQ:TIGO) to Issue $0.75 Quarterly Dividend

Millicom International Cellular SA (NASDAQ:TIGO) announced a quarterly dividend on Thursday, March 26th. Shareholders of record on Wednesday, July 8th will be given a dividend of 0.75 per share by the technology company on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, July 8th.

Millicom International Cellular has a payout ratio of 86.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Millicom International Cellular to earn $4.89 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 61.3%.

Millicom International Cellular Price Performance

Shares of TIGO stock opened at $93.76 on Monday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.60 and a current ratio of 0.62. Millicom International Cellular has a fifty-two week low of $36.59 and a fifty-two week high of $95.38. The firm has a market cap of $15.85 billion, a P/E ratio of 12.74 and a beta of 0.92. The business’s 50 day moving average price is $85.67 and its 200-day moving average price is $73.33.

Millicom International Cellular (NASDAQ:TIGO) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Millicom International Cellular had a return on equity of 16.38% and a net margin of 19.16%.The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, equities research analysts anticipate that Millicom International Cellular will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TIGO shares. Scotiabank lifted their target price on shares of Millicom International Cellular from $51.20 to $52.40 and gave the company a “sector underperform” rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Millicom International Cellular from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of Millicom International Cellular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 13th. UBS Group cut Millicom International Cellular from a “buy” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research report on Tuesday, May 26th. Finally, Zacks Research upgraded Millicom International Cellular from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.28.

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.