Adeia Inc. (NASDAQ:ADEA) to Issue Quarterly Dividend of $0.05

Adeia Inc. (NASDAQ:ADEA) declared a quarterly dividend on Wednesday, October 23rd,Wall Street Journal reports. Shareholders of record on Wednesday, November 27th will be given a dividend of 0.05 per share on Wednesday, December 18th. This represents a $0.20 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, November 27th.

Adeia has decreased its dividend payment by an average of 26.3% annually over the last three years. Adeia has a dividend payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Adeia to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 20.6%.

Adeia Stock Performance

Shares of NASDAQ:ADEA opened at $12.25 on Tuesday. The company’s 50 day simple moving average is $12.13 and its 200 day simple moving average is $11.69. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. Adeia has a 1 year low of $9.05 and a 1 year high of $14.24. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 34.03 and a beta of 1.44.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BWS Financial reiterated a “buy” rating and issued a $16.00 price target on shares of Adeia in a research note on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a report on Friday, November 8th.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.