Gen Digital Inc. Announces Quarterly Dividend of $0.13 (NASDAQ:GEN)

Key Points

• Gen Digital Inc. declared a quarterly dividend of $0.13 per share, which translates to an annualized yield of 1.8%, with payment scheduled for September 10th for shareholders of record by August 18th.
• The company reported a 4.4% increase in revenue year-over-year for the last quarter, earning $0.59 EPS, surpassing analyst estimates.
• Gen Digital has a strong financial position with a dividend payout ratio of 17.9% and is expected to earn $2.24 per share next year, indicating sustainability of its dividend payments.

Gen Digital Inc. (NASDAQ:GEN - Get Free Report) declared a quarterly dividend on Thursday, August 7th, RTT News reports. Shareholders of record on Monday, August 18th will be given a dividend of 0.125 per share on Wednesday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%.

Gen Digital has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gen Digital to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 22.3%.

Gen Digital Stock Performance

NASDAQ:GEN traded down $0.42 during mid-day trading on Thursday, hitting $28.27. The company's stock had a trading volume of 6,483,491 shares, compared to its average volume of 3,048,459. The business's fifty day moving average is $29.59 and its two-hundred day moving average is $27.81. The stock has a market cap of $17.41 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.05 and a beta of 1.00. The company has a debt-to-equity ratio of 3.51, a current ratio of 0.51 and a quick ratio of 0.51. Gen Digital has a 1 year low of $22.74 and a 1 year high of $31.72.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. Analysts anticipate that Gen Digital will post 2.05 EPS for the current fiscal year.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.

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