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

InterDigital, Inc. (NASDAQ:IDCC) announced a quarterly dividend on Friday, February 7th,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 annualized dividend and a dividend yield of 1.16%. The ex-dividend date 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% per year over the last three years. InterDigital has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect InterDigital to earn $5.87 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 30.7%.

InterDigital Stock Down 2.6 %

Shares of IDCC traded down $5.48 during trading hours on Friday, hitting $206.31. The stock had a trading volume of 381,330 shares, compared to its average volume of 389,376. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a 50 day simple moving average of $188.57 and a 200-day simple moving average of $162.30. The firm has a market capitalization of $5.23 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 2.08 and a beta of 1.44. InterDigital has a 1-year low of $95.33 and a 1-year high of $213.38.

Insider Buying and Selling at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total transaction of $129,500.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the transaction, the chief executive officer now directly owns 158,652 shares in the company, valued at approximately $30,004,266.24. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,322 shares of company stock worth $2,562,751. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

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

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.