Xerox Holdings Co. (NYSE:XRX) Announces $0.03 Quarterly Dividend

Key Points

• Xerox Holdings Co. announced a quarterly dividend of $0.03 per share, with a yield of 2.4%, to be paid to shareholders on October 31st.
• The company's dividend payout ratio is currently 6.7%, indicating that the dividend is sufficiently covered by earnings.
• Xerox reported a loss of $0.64 earnings per share in its last earnings report, missing analysts' estimates significantly and reflecting a challenging financial position.

Xerox Holdings Co. (NYSE:XRX - Get Free Report) declared a quarterly dividend on Wednesday, August 6th, RTT News reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.025 per share by the information technology services provider on Friday, October 31st. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 30th.

Xerox has a payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Xerox to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 8.3%.

Xerox Stock Performance

Xerox stock traded down $0.05 during midday trading on Friday, hitting $4.17. 3,675,441 shares of the company's stock were exchanged, compared to its average volume of 4,081,715. Xerox has a 12-month low of $3.44 and a 12-month high of $11.42. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The stock has a market cap of $524.54 million, a price-to-earnings ratio of -0.39 and a beta of 1.79. The firm's 50 day simple moving average is $5.21 and its 200 day simple moving average is $5.64.

Xerox (NYSE:XRX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.71). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same quarter in the previous year, the company earned $0.29 EPS. The business's revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts predict that Xerox will post 1.07 EPS for the current year.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.