Business
Cogent Communications Reports Fourth Quarter and Full Year 2019 Results and Increases Regular Quarterly Dividend on Common Stock
WASHINGTON, Feb. 27, 2020 /PRNewswire/ -- Financial and Business Highlights Cogent approved a $0.02 increase per share to its regular quarterly dividend to
About this update from Cogent Communications Holdings, Inc.
[{"type":"text","content":"WASHINGTON, Feb. 27, 2020 /PRNewswire/ -- \n\n \n \n\n \nFinancial and Business Highlights\nCogent approved a $0.02 increase per share to its regular quarterly dividend to $0.66 per share for Q1 2020 from $0.64 per share for Q4 2019 – Cogent's thirtieth consecutive quarterly dividend increase. The Q1 2020 $0.66 dividend per share represents an annual increase of 13.8% from the dividend per share of $0.58 for Q1 2019. Dividends for 2019 totaled $112.6 million, or $2.44 per share, with 54.0% treated as a return of capital and 46.0% treated as dividends for US federal income tax purposes. Service revenue, on a constant currency basis, increased by 2.5% from Q3 2019 to Q4 2019, increased from Q4 2018 to Q4 2019 by 6.8% and increased from full year 2018 to full year 2019 by 6.0% to $546.2 million. Service revenue increased by 2.4% from Q3 2019 to Q4 2019, increased from Q4 2018 to Q4 2019 by 6.2% and increased from full year 2018 to full year 2019 by 5.0%. Non-GAAP gross profit increased by 10.4% from Q4 2018 to $84.6 million for Q4 2019 and increased from full year 2018 to full year 2019 by 8.6% to $327.4 million. GAAP gross profit increased by 16.0% from Q4 2018 to $64.3 million for Q4 2019 and increased from full year 2018 to full year 2019 by 12.2% to $246.1 million. Non-GAAP gross margin increased by 230 basis points from Q4 2018 to Q4 2019 to 60.3% and increased from full year 2018 to full year 2019 by 190 basis points to 59.9%. GAAP gross margin increased by 380 basis points from Q4 2018 to Q4 2019 to 45.8% and increased from full year 2018 to full year 2019 by 290 basis points to 45.1%. EBITDA increased by 4.4% from Q3 2019 to $52.7 million for Q4 2019, increased by 10.8% from Q4 2018 to Q4 2019 and increased from full year 2018 to full year 2019 by 7.3% to $197.9 million. EBITDA margin increased by 70 basis points from Q3 2019 to 37.6% for Q4 2019, increased by 160 basis points from Q4 2018 to Q4 2019 and increased from full year 2018 to full year 2019 by 70 basis points to 36.2%.Net cash provided by operating activities increased by 37.8% from Q3 2019 to $46.1 million for Q4 2019, increased by 13.2% from Q4 2018 to Q4 2019 and increased from full year 2018 to full year 2019 by 11.1% to $148.8 million.Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (\"Cogent\") today announced service revenue of $140.3 million for the th...