InterDigital, Inc. (IDCC) to Issue Quarterly Dividend of $0.60 on April 23rd

InterDigital, Inc. (NASDAQ:IDCC) declared a quarterly dividend on Thursday, February 6th, Wall Street Journal reports. Stockholders of record on Wednesday, April 9th will be paid a dividend of 0.60 per share by the Wireless communications provider on Wednesday, April 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a 33.3% increase from InterDigital’s previous quarterly dividend of $0.45.

InterDigital has raised its dividend payment by an average of 6.7% per year over the last three years. InterDigital has a payout ratio of 38.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect InterDigital to earn $6.86 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 35.0%.

InterDigital Stock Down 3.4 %

IDCC opened at $191.31 on Monday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $207.18 and its 200 day simple moving average is $185.51. InterDigital has a 52 week low of $95.36 and a 52 week high of $231.97. The stock has a market cap of $4.91 billion, a PE ratio of 15.89, a P/E/G ratio of 1.57 and a beta of 1.44.

Insider Buying and Selling

In related news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total value of $129,500.00. Following the completion of the sale, the chief technology officer now owns 52,396 shares of the company’s stock, valued at $9,693,260. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard Brezski sold 9,602 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the transaction, the chief financial officer now directly owns 102,555 shares in the company, valued at approximately $22,070,861.55. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,133 shares of company stock valued at $2,811,939 over the last three months. 2.30% of the stock is owned by company insiders.

InterDigital Company Profile

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.