Royalty Pharma plc (NASDAQ:RPRX) Declares Quarterly Dividend of $0.22

Royalty Pharma plc (NASDAQ:RPRX) announced a quarterly dividend on Friday, January 10th,Wall Street Journal reports. Stockholders of record on Friday, February 21st will be given a dividend of 0.22 per share by the biopharmaceutical company on Monday, March 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, February 21st. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21.

Royalty Pharma has increased its dividend payment by an average of 7.3% annually over the last three years. Royalty Pharma has a dividend payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Up 12.6 %

Shares of RPRX stock traded up $3.29 on Friday, reaching $29.49. 8,018,094 shares of the stock were exchanged, compared to its average volume of 3,134,580. The stock has a 50 day moving average price of $25.90 and a 200 day moving average price of $27.02. The stock has a market cap of $17.38 billion, a PE ratio of 15.28, a P/E/G ratio of 4.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. Royalty Pharma has a one year low of $24.05 and a one year high of $31.66.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RPRX. Citigroup dropped their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and an average price target of $41.67.

Royalty Pharma Company Profile

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.