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

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) declared a quarterly dividend on Tuesday, May 5th. Shareholders of record on Friday, June 5th will be given a dividend of 0.275 per share by the software maker on Friday, June 19th. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, June 5th.

Open Text has decreased its dividend payment by an average of 0.1%per year over the last three years. Open Text has a dividend payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Open Text to earn $4.32 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 25.5%.

Open Text Stock Down 2.3%

Shares of NASDAQ OTEX opened at $24.79 on Wednesday. Open Text has a one year low of $20.00 and a one year high of $39.90. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.94. The business’s fifty day moving average price is $22.83 and its 200-day moving average price is $27.04. The stock has a market capitalization of $6.02 billion, a PE ratio of 12.09 and a beta of 1.05.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.07. Open Text had a return on equity of 24.77% and a net margin of 9.91%.The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Open Text will post 4.05 EPS for the current year.

About Open Text

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.