Millicom International Cellular S.A.
TIGOCommunication Services · Stock · quarterly payer
Forward Yield
3.11%
Annual Dividend
$3.00
Payout Ratio
41%
5-Yr Growth
—
Ex-Date
Oct 8, 2026
Frequency
Quarterly
Summary
As of July 2026, Millicom International Cellular S.A. (TIGO) yields 3.11% ($3.00 per share annually), with a blended fair-value estimate of $114.86 — +21% upside, so it screens as undervalued. Dividend safety grade: C (52/100).
Is TIGO a good dividend stock?
MixedMillicom International Cellular S.A. (TIGO) pays a quarterly dividend yielding 3.11% ($3.00/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
- Comfortable payout ratio (41%)
- 151% total price return over 5 years
Risks
- Cut its dividend in 2025
Key Data
- Dividend Yield
- 3.11%
- Payout Ratio
- 41%
- Annual Dividend
- $3.00
- 5-Yr Avg Growth
- —
- Ex-Dividend Date
- Oct 8, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.89
- Market Cap
- $15.8B
- P/E Ratio
- 12.8
- 5-Yr Total Return
- 151%
- 52-Week Range
- $39.01 – $100.75
- Dividend Safety
- C · 52/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
TIGO Price — Last 12 Months
Daily close
Price Return
1 Year
+96%
3 Years
+496%
5 Years
+151%
52-Week Range
$39.01 – $100.75
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is TIGO worth?
Undervaluedlow confidenceOur blended fair-value estimate for Millicom International Cellular S.A. is $114.86 per share, versus a market price of $94.54. That implies 21% of upside — a margin of safety of about 18%.
Fair Value
$114.86
Current Price
$94.54
Upside
+21%
Margin of Safety
18%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 40.0% annual free-cash-flow growth. We model 14.7% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.8% discount rate (CAPM), 14.7% stage-1 growth, 2.5% terminal growth, $7.36 EPS, $3.00 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
TIGO Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 8, 2026 | — | $0.7500 | regular |
| Apr 8, 2026 | — | $2.0000 | regular |
| Jan 8, 2026 | — | $0.7500 | regular |
| Oct 8, 2025 | — | $2.0000 | regular |
| Jul 8, 2025 | — | $0.7500 | regular |
| Apr 8, 2025 | — | $0.7500 | regular |
| Jan 3, 2025 | — | $1.0000 | regular |
| Nov 5, 2019 | — | $1.3200 | regular |
| May 3, 2019 | — | $1.3200 | regular |
Income Calculator
At $3.00 / yr per share
