Warner Music Group Corp. (NASDAQ:WMG – Get Free Report) announced a quarterly dividend on Monday, November 9th. Shareholders of record on Friday, November 20th will be given a dividend of $0.20 per share on Tuesday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, November 20th.
Warner Music Group has raised its dividend payment by an average of 0.4% per year over the last three years and has increased its dividend every year for the last 4 years. Warner Music Group has a payout ratio of 58.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Warner Music Group to earn $1.77 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 45.2%.
Warner Music Group Stock Performance
Shares of WMG opened at $31.79 on Tuesday. Warner Music Group has a 12-month low of $23.34 and a 12-month high of $35.42. The stock has a market capitalization of $16.63 billion, a P/E ratio of 25.23, a P/E/G ratio of 0.45 and a beta of 1.34. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.73 and a quick ratio of 0.72. The firm’s 50 day moving average is $29.15 and its 200-day moving average is $28.63.
Institutional Trading of Warner Music Group
A number of hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC raised its position in shares of Warner Music Group by 1.7% in the third quarter. HighTower Advisors LLC now owns 262,287 shares of the company’s stock valued at $7,242,000 after buying an additional 4,388 shares in the last quarter. Intech Investment Management LLC raised its holdings in Warner Music Group by 4.9% in the 3rd quarter. Intech Investment Management LLC now owns 90,346 shares of the company’s stock valued at $2,494,000 after acquiring an additional 4,231 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Warner Music Group by 203.9% during the 3rd quarter. Bessemer Group Inc. now owns 1,395 shares of the company’s stock valued at $39,000 after acquiring an additional 936 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Warner Music Group during the 3rd quarter valued at $1,785,000. Finally, Keybank National Association OH grew its holdings in shares of Warner Music Group by 43.7% during the 3rd quarter. Keybank National Association OH now owns 28,436 shares of the company’s stock worth $785,000 after purchasing an additional 8,647 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.
About Warner Music Group
Warner Music Group is a global music entertainment company with two main businesses: recorded music and music publishing. Its recorded music operations discover and develop artists, release and market recordings, and distribute music through digital services and physical formats. The company works with artists across a range of genres and career stages.
Through its recorded music labels, including Atlantic Records, Warner Records and Elektra Records, Warner Music Group supports artists with services such as artist development, marketing and distribution.
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