Open Text Corporation (NASDAQ:OTEX) Raises Dividend to $0.28 Per Share

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Friday, September 4th will be paid a dividend of 0.28 per share by the software maker on Friday, September 18th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, September 4th. This is a 1.8% increase from Open Text’s previous quarterly dividend of $0.28.

Open Text has decreased its dividend payment 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. 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 Up 0.0%

Shares of NASDAQ:OTEX traded up $0.01 on Thursday, reaching $25.66. The company had a trading volume of 4,340,431 shares, compared to its average volume of 2,164,353. The stock has a 50-day moving average price of $22.98 and a 200 day moving average price of $23.64. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.56. Open Text has a twelve month low of $19.77 and a twelve month high of $39.90. The stock has a market capitalization of $6.21 billion, a P/E ratio of 12.52 and a beta of 1.03.

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

Open Text Company Profile

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.