Concentrix Corporation (NASDAQ:CNXC) to Issue Dividend Increase – $0.37 Per Share

Concentrix Corporation (NASDAQ:CNXC) declared a quarterly dividend on Tuesday, September 29th. Investors of record on Friday, October 23rd will be given a dividend of $0.37 per share on Tuesday, November 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, October 23rd. This is a 2.8% increase from Concentrix’s previous quarterly dividend of $0.36.

Concentrix has a dividend payout ratio of 11.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Concentrix to earn $10.16 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 14.2%.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $24.88 on Wednesday. Concentrix has a 12 month low of $19.12 and a 12 month high of $49.37. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -1.17, a PEG ratio of 0.47 and a beta of 0.47. The stock’s 50 day moving average price is $27.01 and its 200 day moving average price is $26.53. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.18 and a quick ratio of 1.18.

Concentrix (NASDAQ:CNXC) last released its earnings results on Monday, June 29th. The company reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.01). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.70 earnings per share. Equities research analysts anticipate that Concentrix will post 9.67 earnings per share for the current fiscal year.

About Concentrix

Concentrix Corporation is a global technology and services company that helps organizations manage customer experience, business operations and digital transformation. Its offerings include customer care, technical support, sales and marketing services, back-office support, analytics, artificial intelligence and automation solutions.

The company serves clients across industries such as technology and consumer electronics, retail, banking and financial services, healthcare, communications and media, travel, and automotive.