PLDT Inc. (NYSE:PHI) announced a semiannual dividend on Monday, August 14th, Wall Street Journal reports. Stockholders of record on Thursday, August 24th will be paid a dividend of 0.9411 per share by the technology company on Monday, September 18th. This represents a dividend yield of 5.57%. The ex-dividend date is Tuesday, August 22nd. This is an increase from PLDT’s previous semiannual dividend of $0.56.

PLDT has decreased its dividend by an average of 7.8% annually over the last three years. PLDT has a dividend payout ratio of 77.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect PLDT to earn $1.89 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 99.5%.

Shares of PLDT (NYSE:PHI) traded up 0.90% during midday trading on Monday, hitting $33.76. 43,132 shares of the stock were exchanged. PLDT has a 12-month low of $25.50 and a 12-month high of $40.75. The company has a market cap of $7.30 billion, a PE ratio of 15.31 and a beta of 1.01. The firm has a 50-day moving average price of $34.00 and a 200-day moving average price of $33.08.

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A number of research firms have recently issued reports on PHI. Zacks Investment Research downgraded shares of PLDT from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. BidaskClub downgraded shares of PLDT from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. TheStreet upgraded shares of PLDT from a “d+” rating to a “c-” rating in a research report on Monday, June 5th. Deutsche Bank AG downgraded shares of PLDT from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, CLSA upgraded shares of PLDT from a “sell” rating to a “buy” rating in a research report on Wednesday, May 24th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $39.00.

About PLDT

PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.

Dividend History for PLDT (NYSE:PHI)

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