Royalty Pharma plc (NASDAQ:RPRX) Declares Quarterly Dividend of $0.22

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report) announced a quarterly dividend on Friday, January 10th,Wall Street Journal reports. Shareholders of record on Friday, February 21st will be paid a dividend of 0.22 per share by the biopharmaceutical company on Monday, March 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Royalty Pharma's previous quarterly dividend of $0.21.

Royalty Pharma has raised its dividend by an average of 7.3% per year over the last three years. Royalty Pharma has a payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Royalty Pharma to earn $4.31 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 19.5%.

Royalty Pharma Price Performance

Shares of RPRX stock traded up $3.29 on Friday, reaching $29.49. The company had a trading volume of 8,066,224 shares, compared to its average volume of 3,142,627. The stock has a market capitalization of $17.38 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 4.36 and a beta of 0.47. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The business's 50-day moving average is $25.94 and its 200 day moving average is $27.04. Royalty Pharma has a one year low of $24.05 and a one year high of $31.66.

Analysts Set New Price Targets

A number of research firms have weighed in on RPRX. TD Cowen raised shares of Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. Citigroup reduced their price objective on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Royalty Pharma has an average rating of "Buy" and an average target price of $41.67.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.