Magic Software Enterprises Ltd. (NASDAQ:MGIC) Announces Quarterly Dividend of $0.15

Magic Software Enterprises Ltd. (NASDAQ:MGIC) declared a quarterly dividend on Tuesday, November 18th. Shareholders of record on Monday, December 15th will be paid a dividend of 0.151 per share by the software maker on Tuesday, December 30th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, December 15th.

Magic Software Enterprises has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. Magic Software Enterprises has a dividend payout ratio of 53.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Magic Software Enterprises to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.59 annual dividend with an expected future payout ratio of 59.6%.

Magic Software Enterprises Price Performance

Magic Software Enterprises stock opened at $22.64 on Thursday. The company’s 50 day simple moving average is $20.87 and its 200-day simple moving average is $19.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.61 and a current ratio of 1.61. Magic Software Enterprises has a 1 year low of $10.83 and a 1 year high of $24.94. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 29.03 and a beta of 0.90.

Magic Software Enterprises (NASDAQ:MGIC) last posted its quarterly earnings data on Tuesday, November 18th. The software maker reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The company had revenue of $161.70 million for the quarter, compared to analysts’ expectations of $154.80 million. Magic Software Enterprises had a return on equity of 15.85% and a net margin of 6.58%. Magic Software Enterprises has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Magic Software Enterprises will post 0.95 earnings per share for the current year.

Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud-based services in Israel and internationally. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.