NEW YORK - Sirius XM Holdings Inc. (NASDAQ: NASDAQ:SIRI), a leading audio entertainment company in North America with a market capitalization of $7.49 billion, has declared a quarterly cash dividend of $0.27 per share, representing a 4.87% yield. The dividend is payable on February 25, 2025, to shareholders of record by the close of business on February 7, 2025. According to InvestingPro, the company has maintained dividend payments for 9 consecutive years.
The announcement today follows SiriusXM's consistent practice of returning value to its stockholders through regular dividend payments. This dividend declaration indicates the company's ongoing commitment to its dividend policy.
SiriusXM, known for its flagship subscription-based satellite radio service, also operates Pandora (OTC:PANDY), a music streaming platform with both ad-supported and premium offerings. Additionally, the company has a significant presence in the podcasting sphere and provides a range of business and advertising solutions. Collectively, SiriusXM's portfolio reaches an estimated 150 million listeners each month, delivering a variety of live, on-demand, and curated content spanning music, talk, news, and sports.
The company's audio entertainment services are designed to cater to a wide audience, providing listeners with content regardless of where they choose to tune in. SiriusXM's extensive programming options aim to satisfy diverse listener preferences, establishing the company as a staple in the North American audio entertainment landscape.
This latest financial move by SiriusXM is part of its broader strategy to maintain its position as a market leader in audio entertainment while simultaneously rewarding its investors. Based on InvestingPro's Fair Value analysis, the stock currently appears undervalued, despite facing near-term profitability headwinds.
The information in this article is based on a press release statement from SiriusXM.
In other recent news, Sirius XM Holdings announced the upcoming retirement of Patrick L. Donnelly, Executive Vice President, General Counsel and Secretary, in 2025. Berkshire Hathaway (NYSE:BRKa) has increased its investment in Sirius XM Holdings, buying about five million shares, indicating confidence in the company's future. In terms of analyst's notes, financial analysis firm Benchmark adjusted its price target for Sirius XM Radio, lowering it to $32.00 from the previous $43.00, while maintaining a Buy rating, due to an expected decline in revenue. Rosenblatt also increased Sirius XM's price target from $28.00 to $29.00, keeping a neutral stance. These recent developments reflect the ongoing changes within Sirius XM Holdings as it navigates the evolving landscape of radio broadcasting and digital media.
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