Telecom Argentina SA (NYSE:TEO) announced a special dividend on Monday, March 12th, Wall Street Journal reports. Shareholders of record on Tuesday, March 20th will be given a dividend of 0.7874 per share by the utilities provider on Wednesday, March 28th. This represents a yield of 4.36%. The ex-dividend date is Monday, March 19th. This is a boost from Telecom Argentina’s previous special dividend of $0.37.
Telecom Argentina has a payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Telecom Argentina to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 43.3%.
Telecom Argentina (NYSE TEO) traded down $0.55 during mid-day trading on Monday, reaching $34.58. 206,318 shares of the company’s stock traded hands, compared to its average volume of 216,732. The stock has a market cap of $6,809.32, a PE ratio of 15.41, a P/E/G ratio of 1.04 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.83 and a quick ratio of 0.75. Telecom Argentina has a 12-month low of $21.20 and a 12-month high of $40.19.
A hedge fund recently raised its stake in Telecom Argentina stock. State Street Corp grew its stake in shares of Telecom Argentina SA (NYSE:TEO) by 55.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,021 shares of the utilities provider’s stock after buying an additional 8,919 shares during the period. State Street Corp’s holdings in Telecom Argentina were worth $634,000 as of its most recent SEC filing. 8.17% of the stock is owned by institutional investors.
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About Telecom Argentina
Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).
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