LONDON, UK / ACCESSWIRE / October 6, 2017 / Pro-Trader Daily takes a closer look at InterDigital, Inc. (NASDAQ: IDCC) as the Company’s stock will begin trading ex-dividend on October 10, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on October 09, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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On September 14, 2017, InterDigital announced that its Board of Directors has approved a 16.7% increase in the Company’s quarterly cash dividend to $0.35 per share. The increase in the regular quarterly cash dividend will take effect beginning with the dividend to be paid in Q4 FY17. The Board of Directors also declared a regular quarterly cash dividend of $.35 per share on its common stock, payable on October 25, 2017, to shareholders of record at the close of business on October 11, 2017.
InterDigital’s indicated dividend represents a yield of 1.86%, which is substantially above the average dividend yield of 1.35% for the Consumer Goods sector. The Company has raised dividend for three consecutive years.
InterDigital has a dividend payout ratio of 36.9%, which indicates that the Company distributes approximately $0.37 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts’ estimates, InterDigital is forecasted to report earnings of $2.61 for the next year, which should comfortably cover the Company’s annualized dividend of $1.40 per share.
InterDigital’s cash and short-term investments totaled $885.39 million as of June 30, 2017, compared to $952.76 million as of December 31, 2016. In Q2 2017, the Company recorded $19.4 million of cash provided by operating activities compared to $191.4 million in Q2 2016. The Company used $10.1 million of free cash flow in the reported quarter compared to $182.4 million of free cash flow generated in the year-ago same period. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for InterDigital
On October 02, 2017, InterDigital announced the launch of its Smart City-focused Chordant™ business. Solutions enabled by the Chordant platform will address the fundamental challenges in Smart City deployments.
The Chordant platform gives cities the ability to unlock value from any data source, allowing them to build smart city solutions using a best-of-breed, easily deployable platform. Its one M2MTM standards-based approach serves as a means for bringing the legacy and future assets together in a future-proof, standards-compliant solution.
The platform being offered through Chordant is the enhanced combination of the same award-winning InterDigital products that have won or been shortlisted for more than ten prestigious global IoT awards. In addition, the Chordant platform is already being utilized in an industry-leading Transport Data Marketplace and other Smart City solutions.
InterDigital develops mobile technologies that are at the core of devices, networks, and services worldwide. InterDigital has licenses and strategic relationships with many of the world’s leading wireless companies. Founded in 1972, InterDigital is included in the S&P MidCap 400® index.
On Thursday, October 05, 2017, the stock closed the trading session at $74.00, marginally slipping 0.94% from its previous closing price of $74.70. A total volume of 267.41 thousand shares have exchanged hands. InterDigital’s stock price advanced 7.09% in the last one month. The stock is trading at a PE ratio of 8.02 and has a dividend yield of 1.89%. The stock currently has a market cap of $2.61 billion.
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