Ubiquiti Inc. Announces Quarterly Dividend of $0.60 (NYSE:UI)

Ubiquiti Inc. (NYSE:UI) announced a quarterly dividend on Friday, August 23rd, NASDAQ reports. Investors of record on Tuesday, September 3rd will be given a dividend of 0.60 per share on Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 1.24%. The ex-dividend date is Tuesday, September 3rd.

Ubiquiti has increased its dividend payment by an average of 19.7% annually over the last three years. Ubiquiti has a payout ratio of 27.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ubiquiti to earn $6.36 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 37.7%.

Ubiquiti Trading Up 9.8 %

Shares of NYSE:UI traded up $17.25 during mid-day trading on Friday, hitting $193.88. The stock had a trading volume of 160,374 shares, compared to its average volume of 79,098. The company has a debt-to-equity ratio of 32.43, a quick ratio of 1.84 and a current ratio of 3.95. The company has a market cap of $11.72 billion, a PE ratio of 32.91 and a beta of 1.18. Ubiquiti has a 12-month low of $103.00 and a 12-month high of $194.59. The company’s 50 day moving average is $162.60 and its 200-day moving average is $136.59.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UI. BWS Financial restated a “buy” rating and set a $160.00 price target on shares of Ubiquiti in a research note on Monday, July 8th. Barclays increased their price target on shares of Ubiquiti from $93.00 to $108.00 and gave the stock an “underweight” rating in a research note on Monday, May 13th.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.