Millicom International Cellular SA Plans Special Dividend of $1.25 (NASDAQ:TIGO)

Millicom International Cellular SA (NASDAQ:TIGO) declared a special dividend on Wednesday, May 21st. Shareholders of record on Wednesday, October 8th will be paid a dividend of 1.25 per share by the technology company on Wednesday, October 15th. This represents a yield of 620.0%. The ex-dividend date of this dividend is Wednesday, October 8th.

Millicom International Cellular has a dividend 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. Research analysts expect Millicom International Cellular to earn $2.84 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 105.6%.

Millicom International Cellular Price Performance

Shares of TIGO stock opened at $48.15 on Monday. The company’s 50-day simple moving average is $45.93 and its two-hundred day simple moving average is $38.69. Millicom International Cellular has a one year low of $23.61 and a one year high of $50.78. The company has a market capitalization of $8.29 billion, a P/E ratio of 8.49 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87.

Millicom International Cellular (NASDAQ:TIGO) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.40 billion. As a group, equities analysts anticipate that Millicom International Cellular will post 1.91 EPS for the current year.

Institutional Trading of Millicom International Cellular

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC increased its stake in shares of Millicom International Cellular by 0.3% in the second quarter. Segall Bryant & Hamill LLC now owns 97,577 shares of the technology company’s stock worth $3,656,000 after acquiring an additional 300 shares during the period. AQR Capital Management LLC grew its position in Millicom International Cellular by 5.0% during the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after buying an additional 453 shares during the period. EverSource Wealth Advisors LLC grew its position in Millicom International Cellular by 55.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock valued at $53,000 after buying an additional 502 shares during the period. Cerity Partners LLC grew its position in Millicom International Cellular by 4.7% during the first quarter. Cerity Partners LLC now owns 11,208 shares of the technology company’s stock valued at $339,000 after buying an additional 508 shares during the period. Finally, BTG Pactual Asset Management US LLC grew its position in Millicom International Cellular by 1.0% during the second quarter. BTG Pactual Asset Management US LLC now owns 63,416 shares of the technology company’s stock valued at $2,376,000 after buying an additional 609 shares during the period.

Millicom International Cellular Company Profile

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.