Fox Co. (FOX) to Issue Quarterly Dividend of $0.27 on March 26th

Fox Co. (NASDAQ:FOX) announced a quarterly dividend on Tuesday, February 4th,RTT News reports. Shareholders of record on Wednesday, March 5th will be given a dividend of 0.27 per share on Wednesday, March 26th. This represents a $1.08 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, March 5th.

FOX has raised its dividend payment by an average of 4.1% per year over the last three years. FOX has a payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect FOX to earn $3.77 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 14.3%.

FOX Stock Performance

NASDAQ FOX opened at $51.27 on Thursday. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average price is $46.10 and its two-hundred day moving average price is $41.13. FOX has a 1 year low of $25.82 and a 1 year high of $52.54. The firm has a market capitalization of $23.42 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.35. FOX had a net margin of 13.40% and a return on equity of 16.49%. During the same quarter last year, the company earned $0.34 EPS. As a group, research analysts anticipate that FOX will post 3.91 EPS for the current year.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 771,024 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total value of $35,521,075.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FOX shares. Moffett Nathanson downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Barclays upgraded shares of FOX to a “hold” rating in a research note on Wednesday, October 9th.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.