Entertainment giant Time Warner Inc. (
) on Wednesday posted better-than-expected fourth quarter earnings
and raised its quarterly dividend payout by 11%.
The New York-based company reported fourth quarter net income of
$773 million, or 76 cents per share, compared with $769 million, or
68 cents per share, in the year-ago period. Excluding one-time
items, adjusted profit was 94 cents per share.
Revenue rose 5% from last year to $8.2 billion.
On average, Wall Street analysts expected a smaller profit of 87
cents per share, on lower revenue of $8.06 billion.
In a separate announcement, TWX's board of directors authorized
an 11% raised to its quarterly dividend payout. The new dividend of
26 cents per share (up from 23.5 cents) will be paid on March 15 to
shareholders of record as of Feb. 29.
Time Warner shares rose $1.09, or +2.9%, in premarket trading
The Bottom Line
Shares of Time Warner (
) have a 2.73% dividend yield, based on last night's closing stock
price of $38.10. The stock has technical support in the $35-$36
price area. If the shares can firm up, we see overhead resistance
around the $41 price level.
Time Warner Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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