AudioCodes Ltd. (NASDAQ:AUDC) to Issue Dividend of $0.20

AudioCodes Ltd. (NASDAQ:AUDC) declared a dividend on Tuesday, August 4th. Stockholders of record on Wednesday, August 19th will be given a dividend of 0.20 per share by the communications equipment provider on Thursday, September 3rd. This represents a dividend yield of 398.0%. The ex-dividend date of this dividend is Wednesday, August 19th.

AudioCodes has increased its dividend by an average of 0.1%annually over the last three years. AudioCodes has a payout ratio of 51.9% indicating that its dividend is sufficiently covered by earnings.

AudioCodes Stock Performance

Shares of NASDAQ AUDC traded up $0.24 during mid-day trading on Tuesday, hitting $10.04. 334,267 shares of the stock traded hands, compared to its average volume of 124,956. The company has a market cap of $255.52 million, a price-to-earnings ratio of 40.16 and a beta of 0.96. The stock has a fifty day moving average price of $9.61 and a 200-day moving average price of $8.77. AudioCodes has a 52 week low of $6.95 and a 52 week high of $10.86.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). AudioCodes had a return on equity of 6.33% and a net margin of 2.79%.The firm had revenue of $62.14 million during the quarter, compared to the consensus estimate of $61.50 million.

Institutional Trading of AudioCodes

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in AudioCodes in the 2nd quarter worth about $43,000. Jane Street Group LLC boosted its holdings in shares of AudioCodes by 14.2% during the 1st quarter. Jane Street Group LLC now owns 47,624 shares of the communications equipment provider’s stock valued at $449,000 after acquiring an additional 5,938 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of AudioCodes by 29.4% during the 4th quarter. Engineers Gate Manager LP now owns 26,871 shares of the communications equipment provider’s stock valued at $235,000 after acquiring an additional 6,098 shares during the last quarter. Jump Financial LLC grew its stake in shares of AudioCodes by 24.0% in the fourth quarter. Jump Financial LLC now owns 34,955 shares of the communications equipment provider’s stock worth $305,000 after acquiring an additional 6,755 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of AudioCodes by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider’s stock worth $718,000 after acquiring an additional 7,019 shares during the period. 68.05% of the stock is currently owned by institutional investors.

About AudioCodes

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.