Royalty Pharma plc (RPRX) to Issue Quarterly Dividend of $0.21 on December 10th

Royalty Pharma plc (NASDAQ:RPRX) announced a quarterly dividend on Friday, October 11th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.21 per share by the biopharmaceutical company on Tuesday, December 10th. This represents a $0.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, November 15th.

Royalty Pharma has raised its dividend by an average of 38.7% per year over the last three years. Royalty Pharma has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Royalty Pharma to earn $4.31 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 19.5%.

Royalty Pharma Stock Down 1.4 %

Shares of RPRX stock opened at $26.00 on Wednesday. Royalty Pharma has a 52-week low of $25.20 and a 52-week high of $31.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 3.85 and a beta of 0.47. The firm’s 50-day moving average is $27.66 and its 200-day moving average is $27.50.

Analyst Ratings Changes

RPRX has been the subject of a number of recent analyst reports. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Citigroup decreased their price objective on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, The Goldman Sachs Group raised their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.