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

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report) declared a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Stockholders of record on Friday, May 16th will be paid a dividend of 0.22 per share by the biopharmaceutical company on Tuesday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, May 16th.

Royalty Pharma has raised its dividend payment by an average of 7.3% per year over the last three years. Royalty Pharma has a payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Royalty Pharma to earn $4.86 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 18.1%.

Royalty Pharma Stock Performance

NASDAQ:RPRX traded up $0.13 during mid-day trading on Friday, hitting $32.16. The stock had a trading volume of 1,203,864 shares, compared to its average volume of 3,245,406. Royalty Pharma has a twelve month low of $24.05 and a twelve month high of $34.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $18.54 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.31 and a beta of 0.50. The company's 50 day simple moving average is $32.54 and its 200 day simple moving average is $29.39.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, equities research analysts forecast that Royalty Pharma will post 4.49 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $42.50.

Royalty Pharma Company Profile

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.