LONDON, UK / ACCESSWIRE / December 15, 2017 / Active-Investors has a free review on Broadcom Ltd (NASDAQ AVGO) following the Company's announcement that it will begin trading ex-dividend on December 18, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on December 15, 2017. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on AVGO:
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Dividend Declared
On December 06, 2017, Broadcom's Board of Directors approved a quarterly, interim cash dividend of $1.75 per ordinary share compared to the earlier dividend of $1.02 per share. The dividend will be payable on December 29, 2017, to shareholders or unit-holders of record, as applicable, at the close of business on December 19, 2017.
Broadcom's indicated dividend represents a yield of 2.71%, which is more than double the average dividend yield of 1.23% for the Technology sector. The Company has raised divided for seven consecutive years.
Dividend Insights
Broadcom has a dividend payout ratio of 41.2%, which means that the Company spends approximately $0.41 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Broadcom is forecasted to report earnings of $20.52 per share for the next year, which is substantially above the Company's annualized dividend of $7.00 per share.
As of July 30, 2017, Broadcom had cash and cash equivalents worth $5.25 billion compared to $1.10 billion as on October 30, 2016. For the three-fiscal quarter ended July 30, 2017, the Company's net cash provided by operating activities was $4.59 billion versus $2.06 billion for the year ago same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Developments for Broadcom
On December 11, 2017, Broadcom announced that it has filed preliminary proxy materials with the SEC in connection with its planned solicitation of proxies to elect 11 independent highly qualified nominees to the Qualcomm's Board of Directors at the latter Company's 2018 Annual Meeting of Stockholders, which Qualcomm has announced will be held on March 06, 2018.
Broadcom also announced that it has filed a premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") with the US Department of Justice Antitrust Division and the Federal Trade Commission regarding its proposed acquisition of Qualcomm.
On November 06, 2017, Broadcom proposed to acquire all of the outstanding shares of Qualcomm for per share consideration of $70.00 in cash and stock. Broadcom's offer represented 28% premium over the closing price of Qualcomm's common stock on November 02, 2017, the last unaffected trading day prior to media speculation regarding a potential transaction, and a premium of 33% to Qualcomm's unaffected 30-day volume-weighted average price.
Stock Performance Snapshot
December 14, 2017 - At Thursday's closing bell, Broadcom's stock fell 1.03%, ending the trading session at $259.34.
Volume traded for the day: 3.76 million shares, which was above the 3-month average volume of 3.22 million shares.
Stock performance in the last three-month - up 3.51%; previous six-month period - up 9.77%; past twelve-month period - up 46.01%; and year-to-date - up 46.71%
After yesterday's close, Broadcom's market cap was at $105.81 billion.
Price to Earnings (P/E) ratio was at 213.10.
The stock has a dividend yield of 1.57%.
The stock is part of the Technology sector, categorized under the Semiconductor - Broad Line industry.
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