Warner Music Group Corp. Announces Quarterly Dividend of $0.12 (NASDAQ:WMG)

Warner Music Group Corp. (NASDAQ:WMG) announced a quarterly dividend on Friday, November 13th, Zacks reports. Shareholders of record on Tuesday, November 24th will be given a dividend of 0.12 per share on Tuesday, December 1st. This represents a $0.48 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Monday, November 23rd.

Warner Music Group has a payout ratio of -52.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Warner Music Group to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 78.7%.

NASDAQ WMG opened at $29.08 on Friday. Warner Music Group has a 52-week low of $25.61 and a 52-week high of $34.76.

WMG has been the topic of several recent research reports. Morgan Stanley raised their price objective on shares of Warner Music Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, November 13th. BidaskClub lowered shares of Warner Music Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 5th.

Warner Music Group Company Profile

Warner Music Group Corp. operates as a music-based content company in the United States, the United Kingdom, and internationally. The company operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as the related marketing, promotion, distribution, sale, and licensing of recorded music created by such artists.

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