NEW YORK - SiriusXM (NASDAQ: SIRI), a prominent audio entertainment company in North America, has declared a quarterly cash dividend for its stockholders. The announced dividend is set at $0.0266 per share of common stock.
This dividend is scheduled to be paid on August 26, 2024, to shareholders recorded by the close of business on August 9, 2024. The declaration of this dividend follows the company's practice of providing returns to its investors and reflects its ongoing financial policies.
SiriusXM's portfolio includes its flagship subscription-based entertainment service, the music streaming services of Pandora (OTC:PANDY), both ad-supported and premium, as well as a comprehensive podcast network. The company also offers business and advertising solutions. With its various audio services, SiriusXM reaches an approximate monthly audience of 150 million listeners, delivering a wide array of content that spans music, talk, news, and sports.
The company's commitment to providing diverse and engaging audio content has positioned it as a leader in the audio entertainment industry, catering to listeners through live, on-demand, and curated programming.
This dividend announcement is part of SiriusXM's regular financial communications and is based on a press release statement. The company's continued efforts to deliver shareholder value through dividends are indicative of its financial health and business strategy.
Investors and interested parties can find more information about SiriusXM and its financial activities on the company's website.
InvestingPro Insights
As SiriusXM (NASDAQ: SIRI) continues to enrich shareholder value with its latest dividend declaration, a glance at the company's financial metrics through InvestingPro provides a deeper understanding of its current market position. With a market capitalization of approximately $7.44 billion and a notably low price-to-earnings (P/E) ratio of 8.79, SiriusXM stands out in the media sector for its valuation. The adjusted P/E ratio has slightly decreased to 8.46 in the last twelve months as of Q1 2024, suggesting a consistent valuation over recent periods.
InvestingPro Tips highlight that SiriusXM has a high shareholder yield and a valuation that implies a strong free cash flow yield. These aspects are particularly relevant for investors looking for companies with the potential to return capital through dividends or share buybacks. Additionally, analysts predict the company will be profitable this year, which aligns with the company's strategy of providing regular dividends to its shareholders.
Key financial metrics further underscore the company's performance, with a robust gross profit margin of 48.94% in the last twelve months as of Q1 2024. Operating income also remains solid at $1.922 billion, maintaining a healthy operating income margin of 21.42%. While the company does not pay a dividend to shareholders, its strong financials suggest the ability to sustain and potentially grow its dividend payouts in the future.
For investors seeking additional insights and tips on SiriusXM, InvestingPro offers a comprehensive list of metrics and recommendations. By using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, granting access to numerous InvestingPro Tips that can help in making informed investment decisions.
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