Rogers Communication, Inc. (NYSE:RCI) to Issue C$0.50 Quarterly Dividend

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Tuesday, September 8th will be given a dividend of 0.50 per share by the Wireless communications provider on Friday, October 2nd. This represents a c) annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Tuesday, September 8th.

Rogers Communication has decreased its dividend by an average of 0.0%annually over the last three years. Rogers Communication has a payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rogers Communication to earn $3.46 per share next year, which means the company should continue to be able to cover its $1.45 annual dividend with an expected future payout ratio of 41.9%.

Rogers Communication Trading Down 4.2%

Shares of RCI traded down $1.45 during trading hours on Wednesday, reaching $32.92. 2,424,735 shares of the company traded hands, compared to its average volume of 1,238,786. Rogers Communication has a 12 month low of $31.38 and a 12 month high of $41.14. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. The company’s fifty day moving average price is $35.77 and its two-hundred day moving average price is $36.66. The company has a market capitalization of $17.78 billion, a price-to-earnings ratio of 3.47, a price-to-earnings-growth ratio of 4.24 and a beta of 0.64.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. Rogers Communication’s revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Rogers Communication will post 3.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rogers Communication

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TD Asset Management Inc boosted its position in shares of Rogers Communication by 2.3% in the 4th quarter. TD Asset Management Inc now owns 8,540,114 shares of the Wireless communications provider’s stock worth $322,789,000 after purchasing an additional 195,189 shares in the last quarter. Fiera Capital Corp increased its position in Rogers Communication by 8,881.3% during the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock valued at $271,751,000 after buying an additional 7,116,744 shares in the last quarter. Bank of Nova Scotia increased its position in Rogers Communication by 7.6% during the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock valued at $241,467,000 after buying an additional 445,964 shares in the last quarter. Morgan Stanley raised its stake in Rogers Communication by 138.0% during the fourth quarter. Morgan Stanley now owns 5,080,341 shares of the Wireless communications provider’s stock valued at $191,681,000 after buying an additional 2,945,885 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Rogers Communication by 67.8% in the third quarter. Bank of America Corp DE now owns 4,866,999 shares of the Wireless communications provider’s stock worth $167,765,000 after acquiring an additional 1,966,476 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.