IRSA Propiedades Comerciales S.A. (NASDAQ:IRCP) Plans $3.57 Variable Dividend

IRSA Propiedades Comerciales S.A. (NASDAQ:IRCP) declared a Variable dividend on Friday, November 13th, Zacks reports. Shareholders of record on Tuesday, November 24th will be given a dividend of 3.571 per share by the financial services provider on Thursday, December 3rd. This represents a yield of 25.5%. The ex-dividend date of this dividend is Monday, November 23rd.

IRSA Propiedades Comerciales has decreased its dividend by 66.4% over the last three years and has raised its dividend every year for the last 1 years. IRSA Propiedades Comerciales has a payout ratio of 216.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect IRSA Propiedades Comerciales to earn $1.18 per share next year, which means the company may not be able to cover its $7.72 annual dividend with an expected future payout ratio of 654.2%.

IRSA Propiedades Comerciales stock opened at $14.49 on Friday. IRSA Propiedades Comerciales has a 1-year low of $5.06 and a 1-year high of $18.00. The firm has a market capitalization of $456.44 million, a price-to-earnings ratio of 1.80 and a beta of 1.14. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $8.34 and a 200 day simple moving average of $7.41.

IRSA Propiedades Comerciales (NASDAQ:IRCP) last announced its quarterly earnings results on Wednesday, September 23rd. The financial services provider reported ($0.33) EPS for the quarter. IRSA Propiedades Comerciales had a net margin of 185.21% and a negative return on equity of 3.67%. The firm had revenue of $18.11 million during the quarter. On average, equities research analysts forecast that IRSA Propiedades Comerciales will post 0.83 EPS for the current year.

A number of research firms have issued reports on IRCP. Zacks Investment Research cut shares of IRSA Propiedades Comerciales from a “buy” rating to a “hold” rating in a research report on Wednesday, October 14th. JPMorgan Chase & Co. cut IRSA Propiedades Comerciales from a “neutral” rating to an “underweight” rating and set a $8.50 target price for the company. in a research note on Friday, October 9th. BidaskClub upgraded IRSA Propiedades Comerciales from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, ValuEngine lowered IRSA Propiedades Comerciales from a “strong-buy” rating to a “buy” rating in a report on Friday, November 13th.

About IRSA Propiedades Comerciales

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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Dividend History for IRSA Propiedades Comerciales (NASDAQ:IRCP)

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