Thomson Reuters Corp (TRI) To Go Ex-Dividend on November 14th

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) announced a quarterly dividend on Monday, October 8th, Zacks reports. Investors of record on Thursday, November 15th will be given a dividend of 0.35 per share by the business services provider on Monday, December 17th. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, November 14th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.35.

Thomson Reuters has increased its dividend payment by an average of 1.5% annually over the last three years and has raised its dividend every year for the last 10 years. Thomson Reuters has a payout ratio of 218.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Thomson Reuters to earn $1.27 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 110.2%.

Thomson Reuters stock traded up $0.17 during mid-day trading on Friday, reaching $48.20. 11,279 shares of the company’s stock traded hands, compared to its average volume of 1,733,627. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 10.71 and a beta of 0.52. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.41. Thomson Reuters has a 12-month low of $36.52 and a 12-month high of $48.14.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, November 6th. The business services provider reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.07. Thomson Reuters had a net margin of 16.21% and a return on equity of 6.04%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Thomson Reuters will post 0.63 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “buy” rating on shares of Thomson Reuters in a research note on Thursday. National Bank Financial reissued a “buy” rating on shares of Thomson Reuters in a research note on Wednesday. Morgan Stanley set a $53.00 target price on shares of Thomson Reuters and gave the company a “buy” rating in a research note on Wednesday. Piper Jaffray Companies reissued a “hold” rating on shares of Thomson Reuters in a research note on Wednesday. Finally, TD Securities reissued a “buy” rating and issued a $69.00 target price on shares of Thomson Reuters in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $50.00.

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About Thomson Reuters

Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.

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Dividend History for Thomson Reuters (NYSE:TRI)

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