Tim S.A. (NYSE:TIMB) Raises Dividend to $0.23 Per Share

Tim S.A. (NYSE:TIMB) announced a dividend on Thursday, April 3rd, investing.com reports. Stockholders of record on Friday, April 11th will be paid a dividend of 0.2288 per share on Thursday, October 30th. This represents a dividend yield of 5.73%. The ex-dividend date of this dividend is Thursday, April 10th. This is a 205.0% increase from TIM’s previous dividend of $0.08.

TIM has a dividend payout ratio of 57.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TIM to earn $1.56 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 57.7%.

TIM Stock Up 0.4 %

Shares of NYSE TIMB opened at $15.96 on Thursday. TIM has a 52-week low of $11.32 and a 52-week high of $18.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.97. The company’s 50 day moving average price is $14.47 and its 200-day moving average price is $14.18. The company has a market capitalization of $7.73 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.67 and a beta of 0.84.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). TIM had a return on equity of 11.91% and a net margin of 12.24%. Equities analysts forecast that TIM will post 1.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TIMB shares. Scotiabank lowered their price objective on shares of TIM from $23.20 to $17.60 and set a “sector outperform” rating for the company in a research note on Wednesday, February 12th. The Goldman Sachs Group reduced their target price on TIM from $16.20 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Barclays upped their price target on TIM from $16.00 to $16.50 and gave the stock an “equal weight” rating in a research note on Monday, March 17th. Finally, UBS Group cut TIM from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th.

About TIM

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.