Open Text Co. (TSE:OTEX) to Issue Dividend Increase - $0.28 Per Share

Key Points

• Open Text Co. announced a quarterly dividend increase to $0.28 per share, up from the previous dividend of $0.17, reflecting a 61.8% increase.
• Despite the dividend hike, Open Text's stock has seen a decline of 2.8% recently, trading at C$38.65.
• Open Text reported earnings of C$0.97 per share, exceeding analysts’ expectations, while maintaining a net margin of 12.21%.

Open Text Co. (TSE:OTEX - Get Free Report) NASDAQ: OTEX announced a quarterly dividend on Thursday, August 7th, RTT News reports. Stockholders of record on Friday, September 5th will be paid a dividend of 0.275 per share on Friday, September 19th. This represents a c) annualized dividend and a dividend yield of 2.8%. This is a 61.8% increase from Open Text's previous quarterly dividend of $0.17.

Open Text Stock Down 2.8%

TSE OTEX traded down C$1.13 during trading hours on Thursday, hitting C$38.65. 865,978 shares of the company traded hands, compared to its average volume of 883,487. The company has a debt-to-equity ratio of 157.46, a quick ratio of 1.34 and a current ratio of 0.87. The business's 50-day moving average is C$39.54 and its 200-day moving average is C$38.60. The stock has a market capitalization of C$7.13 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.35 and a beta of 1.12. Open Text has a twelve month low of C$32.41 and a twelve month high of C$47.52.

Open Text (TSE:OTEX - Get Free Report) NASDAQ: OTEX last announced its quarterly earnings data on Thursday, August 7th. The company reported C$0.97 earnings per share for the quarter, topping the consensus estimate of C$0.83 by C$0.14. Open Text had a return on equity of 15.83% and a net margin of 12.21%. During the same quarter in the prior year, the company posted $0.98 earnings per share. Sell-side analysts anticipate that Open Text will post 4.9036649 earnings per share for the current year.

About Open Text

Open Text Corp grew out of a technology project involving the Oxford English Dictionary at Canada's University of Waterloo in the mid-1980s. Its software allows clients to archive, aggregate, retrieve, and search unstructured information (such as documents, e-mail, presentations). The company is based in Ontario, Canada.

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