Millicom International Cellular SA (TIGO) To Go Ex-Dividend on October 8th

Millicom International Cellular SA (NASDAQ:TIGO) announced a special dividend on Wednesday, May 21st. Stockholders of record on Wednesday, October 8th will be paid a dividend of 1.25 per share by the technology company on Wednesday, October 15th. This represents a dividend yield of 620.0%. The ex-dividend date of this dividend is Wednesday, October 8th.

Millicom International Cellular has a dividend payout ratio of 86.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Price Performance

TIGO stock opened at $48.15 on Monday. The stock has a 50-day moving average price of $45.93 and a two-hundred day moving average price of $38.69. The company has a market cap of $8.29 billion, a PE ratio of 8.49 and a beta of 1.11. Millicom International Cellular has a 12-month low of $23.61 and a 12-month high of $50.78. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.40 billion. As a group, research analysts predict that Millicom International Cellular will post 1.91 EPS for the current year.

Institutional Trading of Millicom International Cellular

Hedge funds and other institutional investors have recently modified their holdings of the company. USA Financial Formulas acquired a new position in Millicom International Cellular during the second quarter worth $30,000. EverSource Wealth Advisors LLC increased its position in Millicom International Cellular by 55.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock worth $53,000 after buying an additional 502 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Millicom International Cellular during the first quarter worth $84,000. State of Wyoming increased its position in Millicom International Cellular by 123.4% during the second quarter. State of Wyoming now owns 4,655 shares of the technology company’s stock worth $174,000 after buying an additional 2,571 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Millicom International Cellular by 65.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company’s stock worth $190,000 after buying an additional 2,489 shares during the last quarter.

About Millicom International Cellular

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.