News Corporation (NWSA) to Distribute Dividend of $0.10 on October 7th

News Corporation (NASDAQ:NWSAGet Free Report) announced a dividend on Wednesday, August 5th. Investors of record on Wednesday, September 9th will be paid a dividend of 0.10 per share on Wednesday, October 7th. This represents a dividend yield of 68.0%. The ex-dividend date of this dividend is Wednesday, September 9th.

News has a dividend payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect News to earn $1.45 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 13.8%.

News Price Performance

NASDAQ:NWSA opened at $29.67 on Friday. News has a 52-week low of $22.20 and a 52-week high of $31.61. The stock has a fifty day moving average of $26.85 and a 200 day moving average of $25.68. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 28.81 and a beta of 0.88.

News (NASDAQ:NWSAGet Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14. News had a return on equity of 7.07% and a net margin of 6.35%.The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the company earned $0.19 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that News will post 1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NWSA. CYBER HORNET ETFs LLC bought a new position in shares of News during the 2nd quarter valued at $30,000. Caitong International Asset Management Co. Ltd bought a new stake in News in the third quarter worth $31,000. Advisory Services Network LLC purchased a new stake in News during the third quarter valued at about $35,000. Brown Brothers Harriman & Co. grew its stake in shares of News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after buying an additional 780 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of News by 561.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock worth $45,000 after buying an additional 1,470 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

About News

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News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.

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Dividend History for News (NASDAQ:NWSA)

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