InterDigital, Inc. (NASDAQ:IDCC) Plans Quarterly Dividend of $0.60

InterDigital, Inc. (NASDAQ:IDCC) announced a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Shareholders of record on Wednesday, April 9th will be given a dividend of 0.60 per share by the Wireless communications provider on Wednesday, April 23rd. This represents a $2.40 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.45.

InterDigital has increased its dividend payment by an average of 6.7% annually over the last three years. InterDigital has a dividend payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect InterDigital to earn $6.52 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 27.6%.

InterDigital Stock Down 3.5 %

IDCC stock opened at $204.39 on Friday. The firm has a market cap of $5.18 billion, a PE ratio of 16.98, a PEG ratio of 2.41 and a beta of 1.44. InterDigital has a 1 year low of $95.33 and a 1 year high of $213.38. The company has a fifty day simple moving average of $188.74 and a 200 day simple moving average of $162.86. The company has a current ratio of 1.70, a quick ratio of 1.62 and a debt-to-equity ratio of 0.08.

Insider Activity

In other news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total value of $129,500.00. Following the sale, the chief technology officer now directly owns 52,396 shares of the company’s stock, valued at approximately $9,693,260. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $189.12, for a total value of $1,114,105.92. Following the transaction, the chief executive officer now directly owns 158,652 shares of the company’s stock, valued at $30,004,266.24. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,322 shares of company stock valued at $2,562,751 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.