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) announced 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%.

Xerox has a dividend payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of NYSE:XRX traded up $0.10 on Wednesday, hitting $4.17. 5,249,676 shares of the company were exchanged, compared to its average volume of 4,089,196. Xerox has a 1-year low of $3.44 and a 1-year high of $11.42. The stock's 50 day moving average price is $5.25 and its 200 day moving average price is $5.77. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $524.54 million, a P/E ratio of -0.39 and a beta of 1.80.

Xerox (NYSE:XRX - Get Free Report) last posted its earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.71). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. The firm's revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. Sell-side 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.

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