Tencent Music Entertainment Group (NYSE:TME) Announces Annual Dividend of $0.18

Tencent Music Entertainment Group (NYSE:TME) announced an annual dividend on Wednesday, March 19th, Wall Street Journal reports. Investors of record on Thursday, April 3rd will be given a dividend of 0.18 per share on Thursday, April 24th. This represents a yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a 48.8% increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12.

Tencent Music Entertainment Group Trading Down 2.5 %

Tencent Music Entertainment Group stock traded down $0.38 during trading hours on Wednesday, reaching $14.71. 13,435,865 shares of the company’s stock were exchanged, compared to its average volume of 8,210,840. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The firm’s 50 day simple moving average is $12.22 and its 200 day simple moving average is $11.75. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $15.77. The firm has a market capitalization of $25.24 billion, a PE ratio of 27.23, a PEG ratio of 0.77 and a beta of 0.70.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TME. Mizuho increased their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley upgraded shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective for the company in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.16.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.