Millicom International Cellular S.A. (NASDAQ:TIGO) Plans $0.75 Annual Dividend

Millicom International Cellular S.A. (NASDAQ:TIGO) announced an annual dividend on Saturday, April 5th, Wall Street Journal reports. Stockholders of record on Tuesday, April 8th will be given a dividend of 0.75 per share by the technology company on Tuesday, April 15th. This represents a dividend yield of 3.9%. The ex-dividend date is Tuesday, April 8th.

Millicom International Cellular has a dividend payout ratio of 82.9% 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 Trading Down 6.6 %

NASDAQ TIGO opened at $28.49 on Friday. Millicom International Cellular has a 52 week low of $19.50 and a 52 week high of $31.63. The company has a 50 day moving average price of $28.21 and a 200 day moving average price of $26.94. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.59. The firm has a market cap of $4.90 billion, a PE ratio of 30.31 and a beta of 1.23.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TIGO shares. Scotiabank increased their price objective on Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a report on Friday, February 28th. Hsbc Global Res upgraded Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price target on Millicom International Cellular from $33.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays decreased their price objective on shares of Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, HSBC upgraded shares of Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Millicom International Cellular has an average rating of “Moderate Buy” and a consensus target price of $35.65.

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.