Concentrix Corporation (NASDAQ:CNXC) Declares Quarterly Dividend of $0.36

Key Points

• Concentrix Corporation has declared a quarterly dividend of $0.36 per share, representing an 8.2% increase from the previous dividend of $0.33.
• The company's payout ratio stands at 10.4%, indicating a healthy coverage of the dividend by earnings.
• Despite the dividend increase, Concentrix stock has traded down 1.1%, reaching $54.99 per share as of the latest trading session.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) declared a quarterly dividend on Thursday, September 25th, RTT News reports. Shareholders of record on Friday, October 24th will be paid a dividend of 0.36 per share on Tuesday, November 4th. This represents a c) annualized dividend and a yield of 2.6%. This is a 8.2% increase from Concentrix's previous quarterly dividend of $0.33.

Concentrix has a payout ratio of 10.4% indicating that its dividend is sufficiently covered by earnings.

Concentrix Stock Down 1.1%

Shares of Concentrix stock traded down $0.61 on Thursday, reaching $54.99. The stock had a trading volume of 1,367,457 shares, compared to its average volume of 671,622. The company has a 50 day moving average price of $52.68 and a 200 day moving average price of $52.61. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.14. Concentrix has a 1 year low of $36.28 and a 1 year high of $66.00. The stock has a market capitalization of $3.47 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.74 and a beta of 0.53.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.06). The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.69 EPS. As a group, equities research analysts forecast that Concentrix will post 10.11 EPS for the current year.

About Concentrix

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.

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