It plans to “retain a strategic relationship” with the new company. Lumen Technologies isn’t severing its ties with its Latin American business, however. (Source: “ Lumen to Sell Latin American Business to Stonepeak for $2.7B,” Lumen Technologies Inc, July 26, 2021.)
In July 2021, the company announced plans to sell its Latin American business to Stonepeak, an infrastructure investment firm, for $2.7 billion. In an effort to focus on its key revenue drivers, Lumen Technologies Inc is selling two of its non-core assets. Two Asset Sales Expected to Generate $7 Billion Its “Quantum Fiber” service isn’t only quicker than that of the competition, but it’s also cheaper, at $0.07 per megabit per second (Mbps). Through Lumen Technologies Inc’s edge computing technology, customers receive exceptional processing performance with low latency. In the words of Lumen Technologies, “all emerging technologies rely on fiber.” The company has that covered, with approximately 500,000 route fiber miles, serving customers in more than 60 countries. (Source: “ Lumen Investor Presentation: May – July 2022,” Lumen Technologies Inc, last accessed June 8, 2022.) Lumen Technologies, formerly CenturyLink Inc, is a communications company that provides an array of infrastructure assets to residential, business, and government customers. The average dividend yield on the Nasdaq is 1.4%. This helps explain why it’s able to pay an 8.4%-yield dividend. Unlike many other tech companies, Lumen Technologies Inc is both profitable and cash-flow-positive. Investor pessimism has also dragged LUMN stock lower. Tech stocks have trended significantly lower this year on rising interest rates, supply chain issues, the war in Ukraine, and concerns about a recession. Down by 0.5% over the last three months.Down by five percent over the last three months.Up by four percent over the last six months.Up by nine percent over the last three months.As of this writing, Lumen Technologies stock is: While not exactly on fire, LUMN stock has certainly been outpacing the broader market.
In May, the company’s board declared a quarterly dividend of $0.25 per share, for a yield of 8.4%. During the first quarter of this year, LUMN stock returned $271.0 million to shareholders through its quarterly dividends. Lumen Technologies’ management has said its goal is to maintain an annualized dividend of $1.00 per share. Investors who want income and growth might want to take a look at Lumen Technologies Inc (NYSE:LUMN), a tech stock that provides safe, inflation-trouncing, ultra-high-yield dividends. AVGO stock is down by 13.5% in 2022, MSFT stock is down by 18.5%, and NDAQ stock is down by 25.5%.
#Lumen stock free
No one is going to complain about getting free money, but when inflation is at 8.3%, those kinds of yields are underwhelming-especially in light of how badly tech stocks have been performing. As for the tech dividend stocks that do provide dividends, most of their payouts are pretty miserly.īroadcom Inc (NASDAQ:AVGO) has a 2.9% dividend yield, Microsoft Corporation (NASDAQ:MSFT) has a 0.9% yield, and Nasdaq Inc (NASDAQ:NDAQ) has a 1.6% yield. What income investors don’t like about tech stocks is that they generally don’t provide dividends. With interest rates still rising, it has room to go lower. The tech-heavy Nasdaq is currently in bear-market territory, down by 26% year-to-date. This doesn’t work as well when interest rates are going up, though. Investors like growth stocks because of the potential for outsized gains. Lumen Technologies Inc Has Reliable Dividends & Low Payout Ratio
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