Fox Corporation - (FOXA) Declares $0.26 Dividend

Fox Corporation - said on August 8, 2023 that its board of directors declared a regular semi-annual dividend of $0.26 per share ($0.52 annualized). Previously, the company paid $0.25 per share.

Shares must be purchased before the ex-div date of August 29, 2023 to qualify for the dividend. Shareholders of record as of August 30, 2023 will receive the payment on September 27, 2023.

At the current share price of $33.84 / share, the stock's dividend yield is 1.54%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.43%, the lowest has been 1.05%, and the highest has been 2.28%. The standard deviation of yields is 0.20 (n=209).

The current dividend yield is 0.53 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.21. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.13%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1177 funds or institutions reporting positions in Fox Corporation -. This is a decrease of 8 owner(s) or 0.68% in the last quarter. Average portfolio weight of all funds dedicated to FOXA is 0.19%, a decrease of 5.46%. Total shares owned by institutions decreased in the last three months by 3.54% to 352,205K shares. The put/call ratio of FOXA is 0.37, indicating a bullish outlook.

Analyst Price Forecast Suggests 6.78% Upside

As of August 1, 2023, the average one-year price target for Fox Corporation - is 36.13. The forecasts range from a low of 28.28 to a high of $46.20. The average price target represents an increase of 6.78% from its latest reported closing price of 33.84.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Fox Corporation - is 15,022MM, an increase of 0.73%. The projected annual non-GAAP EPS is 3.26.

What are Other Shareholders Doing?

Dodge & Cox holds 40,057K shares representing 8.19% ownership of the company. In it's prior filing, the firm reported owning 40,067K shares, representing a decrease of 0.03%. The firm increased its portfolio allocation in FOXA by 11.38% over the last quarter.

DODGX - Dodge & Cox Stock Fund holds 27,659K shares representing 5.65% ownership of the company. No change in the last quarter.

Independent Franchise Partners LLP holds 18,813K shares representing 3.85% ownership of the company. In it's prior filing, the firm reported owning 18,958K shares, representing a decrease of 0.77%. The firm decreased its portfolio allocation in FOXA by 7.86% over the last quarter.

Ninety One UK holds 11,892K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 11,989K shares, representing a decrease of 0.81%. The firm decreased its portfolio allocation in FOXA by 7.22% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,958K shares representing 1.83% ownership of the company. In it's prior filing, the firm reported owning 8,898K shares, representing an increase of 0.67%. The firm increased its portfolio allocation in FOXA by 4.23% over the last quarter.

Fox Background Information
(This description is provided by the company.)

Fox Corporation produces and distributes compelling news, sports and entertainment content through its iconic domestic brands including: FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of its footprint allows them to deliver content that engages and informs audiences, develop deeper consumer relationships and create more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that shapes its strategy to capitalize on existing strengths and invest in new initiatives.

Additional reading:

• TRANSITION AND SEPARATION AGREEMENT
• [Signature page follows]
• VIET DINH TO DEPART FOX CORPORATION
• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
• Form of Fox Corporation 2019 Shareholder Alignment Plan Restricted Stock Unit Terms and Conditions.*

This story originally appeared on Fintel.