Philippine Long Distance Telephone said on March 23, 2023 that its board of directors declared a regular semi-annual dividend of $1.08 per share ($2.16 annualized). Previously, the company paid $1.35 per share.
Shares must be purchased before the ex-div date of April 6, 2023 to qualify for the dividend. Shareholders of record as of April 10, 2023 will receive the payment on May 8, 2023.
At the current share price of $24.23 / share, the stock's dividend yield is 8.93%. Looking back five years and taking a sample every week, the average dividend yield has been 5.34%, the lowest has been 3.59%, and the highest has been 7.76%. The standard deviation of yields is 0.86 (n=236).
The current dividend yield is 4.16 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.03. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 41.36% Upside
As of March 25, 2023, the average one-year price target for Philippine Long Distance Telephone is $34.25. The forecasts range from a low of $27.96 to a high of $42.82. The average price target represents an increase of 41.36% from its latest reported closing price of $24.23.
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The projected annual revenue for Philippine Long Distance Telephone is $216,671MM, an increase of 5.57%. The projected annual non-GAAP EPS is $143.08.
What is the Fund Sentiment?
There are 212 funds or institutions reporting positions in Philippine Long Distance Telephone. This is an increase of 3 owner(s) or 1.44% in the last quarter. Average portfolio weight of all funds dedicated to PHI is 0.12%, a decrease of 9.31%. Total shares owned by institutions decreased in the last three months by 1.45% to 9,835K shares.
What are Large Shareholders Doing?
Renaissance Technologies holds 2,679K shares representing 1.24% ownership of the company. In it's prior filing, the firm reported owning 2,818K shares, representing a decrease of 5.22%. The firm decreased its portfolio allocation in PHI by 17.17% over the last quarter.
VEIEX - Vanguard Emerging Markets Stock Index Fund Investor Shares holds 1,273K shares representing 0.59% ownership of the company. No change in the last quarter.
VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 1,203K shares representing 0.56% ownership of the company. In it's prior filing, the firm reported owning 1,201K shares, representing an increase of 0.17%. The firm increased its portfolio allocation in PHI by 3.87% over the last quarter.
IEMG - iShares Core MSCI Emerging Markets ETF holds 734K shares representing 0.34% ownership of the company. In it's prior filing, the firm reported owning 731K shares, representing an increase of 0.44%. The firm increased its portfolio allocation in PHI by 4.44% over the last quarter.
FGKPX - Fidelity SAI Emerging Markets Low Volatility Index Fund holds 441K shares representing 0.20% ownership of the company. In it's prior filing, the firm reported owning 382K shares, representing an increase of 13.35%. The firm increased its portfolio allocation in PHI by 0.56% over the last quarter.
PLDT Background Information
(This description is provided by the company.)
PLDT, Inc., formerly known as the Philippine Long Distance Telephone Company, is a Philippine telecommunications, internet and digital service holdings company. It is one of the major telecommunications providers in the Philippines.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
