American Tower Hikes Dividend - Analyst Blog
2013年3月13日 - 8:40PM
Zacks
The board of directors of
American Tower Corporation. (AMT) recently
announced a 8.3% or 2 cents hike in its quarterly cash dividend to
26 cents per share, resulting in a current dividend yield of 1.26%.
The increased dividend will be paid on Apr 25, 2013 to shareholders
of record, at the close of business on Apr 10, 2013.
The company started functioning as
a Real Estate Investment trust (REIT) from Jan 1, 2012, after
completing the merger with its wholly owned subsidiary American
Tower REIT Inc., on Dec 31, 2011.
Following the conversion, American
Tower will be required to pay less tax as the company will
distribute 90% of its earnings through dividends every year.
The company declared its first
dividend of 21 cents per share on Mar 22, 2012 and paid successive
dividends of 22 cents, 23 cents and 24 cents in the next three
quarters, hence taking its annual tally to 90 cents per share,
which is nearly 56% of the total net profit distributed as
dividends. However, the company missed the target for the year 2012
by a huge margin. The company also maintained its next five-year
annual dividend growth target in the range of 20%
Earlier, in order to qualify as a
REIT, American Tower paid a special dividend of 35 cents per share
to its shareholders on Dec 23, 2011.
Other Stocks to
Consider
American Tower currently has a
Zacks Rank #3 (Hold). Other stocks in the wireless tower industry
include Crown Castle International Corp. (CCI),
SBA Communication Corp. (SBAC) and Equinix
Inc. (EQIX). All the 3 stocks currently have a Zacks Rank
#3 (Hold) and never declared any cash dividend to date.
AMER TOWER CORP (AMT): Free Stock Analysis Report
CROWN CASTLE (CCI): Free Stock Analysis Report
EQUINIX INC (EQIX): Free Stock Analysis Report
SBA COMM CORP (SBAC): Free Stock Analysis Report
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