IDT Corporation (IDT) Announces Quarterly Dividend of $0.19
IDT Corporation (NYSE:IDT) declared a quarterly dividend on Wednesday, October 4th, Wall Street Journal reports. Investors of record on Monday, October 16th will be paid a dividend of 0.19 per share by the utilities provider on Friday, October 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend is Friday, October 13th.
IDT Corporation has a dividend payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect IDT Corporation to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 50.7%.
Shares of IDT Corporation (IDT) traded down 9.15% on Wednesday, reaching $13.40. The company had a trading volume of 384,898 shares. IDT Corporation has a 52-week low of $12.03 and a 52-week high of $23.13. The company’s 50-day moving average price is $14.29 and its 200-day moving average price is $14.76. The firm has a market capitalization of $332.80 million, a price-to-earnings ratio of 10.64 and a beta of 1.13.
In other news, Director Judah Schorr acquired 7,000 shares of the stock in a transaction on Thursday, July 13th. The shares were purchased at an average price of $14.82 per share, for a total transaction of $103,740.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 12.80% of the stock is owned by company insiders.
A number of equities analysts have recently weighed in on IDT shares. TheStreet upgraded IDT Corporation from a “c+” rating to a “b-” rating in a research note on Friday, June 16th. BidaskClub downgraded IDT Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th.
About IDT Corporation
IDT Corporation is a holding company with operations primarily in the telecommunications and payment industries. The Company’s segments include Telecom Platform Services, Consumer Phone Services and All Other. The Company’s Telecom Platform Services segment provides retail telecommunications and payment offerings, as well as wholesale international long distance traffic termination.
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