MiX Telematics Ltd – (NYSE:MIXT) announced a dividend on Thursday, August 1st, NASDAQ reports. Stockholders of record on Friday, August 23rd will be paid a dividend of 0.051 per share by the technology company on Tuesday, September 10th. The ex-dividend date is Thursday, August 22nd. This is an increase from MiX Telematics’s previous dividend of $0.01.
MiX Telematics has raised its dividend payment by an average of 2.7% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. MiX Telematics has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MiX Telematics to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 21.1%.
Shares of NYSE MIXT traded down $0.14 during mid-day trading on Tuesday, hitting $14.25. 452 shares of the company traded hands, compared to its average volume of 123,176. MiX Telematics has a 1 year low of $13.01 and a 1 year high of $20.07. The stock has a market capitalization of $321.95 million, a price-to-earnings ratio of 19.00, a PEG ratio of 0.67 and a beta of 0.74. The business has a 50 day moving average of $15.02 and a two-hundred day moving average of $16.65.
MIXT has been the subject of several research analyst reports. ValuEngine downgraded MiX Telematics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 4th. Zacks Investment Research raised MiX Telematics from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, August 6th.
MiX Telematics Company Profile
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
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