Open Text Corporation (NASDAQ:OTEX) to Issue Quarterly Dividend of $0.28

by · The Markets Daily

Open Text Corporation (NASDAQ:OTEX – Get Free Report) (TSE:OTC) declared a quarterly dividend on Wednesday, February 4th. Stockholders of record on Friday, March 6th will be given a dividend of 0.275 per share by the software maker on Friday, March 20th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, March 6th.

Open Text has decreased its dividend by an average of 0.1%annually over the last three years. Open Text has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Open Text to earn $3.78 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 29.1%.

Open Text Stock Performance

NASDAQ:OTEX traded up $1.82 during mid-day trading on Friday, hitting $24.61. The stock had a trading volume of 1,962,564 shares, compared to its average volume of 1,867,203. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.60. The company has a 50 day simple moving average of $31.28 and a 200-day simple moving average of $33.46. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 12.89 and a beta of 1.08. Open Text has a 52 week low of $22.44 and a 52 week high of $39.90.

Open Text (NASDAQ:OTEX – Get Free Report) (TSE:OTC) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. Open Text had a return on equity of 23.44% and a net margin of 9.60%.The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts expect that Open Text will post 3.45 earnings per share for the current fiscal year.

About Open Text

(Get Free Report)

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.

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