Tencent Music Entertainment Group (NYSE:TME) Raises Dividend to $0.18 Per Share

Tencent Music Entertainment Group (NYSE:TME) declared an annual dividend on Tuesday, March 18th, Wall Street Journal reports. Investors of record on Thursday, April 3rd will be paid a dividend of 0.18 per share on Thursday, April 24th. This represents a yield of 0.9%. The ex-dividend date is Thursday, April 3rd. This is a 48.8% increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12.

Tencent Music Entertainment Group Price Performance

Shares of Tencent Music Entertainment Group stock opened at $14.71 on Thursday. The stock has a 50 day moving average of $12.29 and a 200 day moving average of $11.77. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. The firm has a market cap of $25.24 billion, a PE ratio of 27.23, a PEG ratio of 0.77 and a beta of 0.70. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TME shares. Mizuho increased their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley upgraded Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.16.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.