Airtel Africa Plc (LON:AAF – Get Free Report)’s stock price dropped 1.4% during trading on Tuesday . The stock traded as low as GBX 116.40 ($1.47) and last traded at GBX 116.60 ($1.47). Approximately 2,787,477 shares changed hands during trading, a decline of 8% from the average daily volume of 3,025,673 shares. The stock had previously closed at GBX 118.20 ($1.50).
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. boosted their price target on Airtel Africa from GBX 93 ($1.18) to GBX 105 ($1.33) and gave the stock a “neutral” rating in a research report on Wednesday, May 8th.
Read Our Latest Stock Analysis on AAF
Airtel Africa Price Performance
Airtel Africa Increases Dividend
The business also recently disclosed a dividend, which will be paid on Friday, July 26th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.04 per share. This is a positive change from Airtel Africa’s previous dividend of $0.02. This represents a yield of 2.46%. The ex-dividend date is Thursday, June 20th. Airtel Africa’s dividend payout ratio (DPR) is currently -16,666.67%.
Insider Transactions at Airtel Africa
In other news, insider Jaideep Paul sold 884,420 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of GBX 120 ($1.52), for a total transaction of £1,061,304 ($1,342,403.24). Insiders own 73.06% of the company’s stock.
About Airtel Africa
Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers.
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