Formula Systems (1985) Ltd. (NASDAQ:FORTY) to Issue $1.63 Special Dividend

Formula Systems (1985) Ltd. (NASDAQ:FORTY) announced a special dividend on Tuesday, August 25th. Stockholders of record on Tuesday, September 22nd will be given a dividend of 1.63 per share by the technology company on Friday, October 16th. This represents a dividend yield of 259.0%. The ex-dividend date is Tuesday, September 22nd.

Formula Systems (1985) has raised its dividend by an average of 0.4%annually over the last three years.

Formula Systems (1985) Stock Performance

Formula Systems (1985) stock opened at $119.20 on Friday. Formula Systems has a 12 month low of $102.01 and a 12 month high of $190.56. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.83 billion, a P/E ratio of 2.99 and a beta of 1.21. The company’s fifty day simple moving average is $115.46 and its 200-day simple moving average is $122.49.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd. is an Israeli information technology holding company that invests in and manages businesses providing software, technology consulting and information technology services. The company operates primarily through its subsidiaries and serves enterprises, government organizations and other institutions across a range of industries.

Its principal subsidiaries include Matrix IT, which provides information technology services, systems integration, consulting, outsourcing and cybersecurity solutions; Magic Software Enterprises, which develops application software and provides digital transformation, cloud, data and professional services; and Sapiens International, which supplies software platforms and related services for the insurance industry, including solutions for property and casualty, life and retirement insurance.

Founded in 1985, Formula Systems has expanded its activities beyond Israel through subsidiaries and operating units serving customers in North America, Europe, Israel and other international markets.