Open Text Corporation (OTEX) To Go Ex-Dividend on September 4th

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Friday, September 4th will be given a dividend of 0.28 per share by the software maker on Friday, September 18th. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, September 4th. This is a 1.8% increase from Open Text’s previous quarterly dividend of $0.28.

Open Text has decreased its dividend by an average of 0.0%per year over the last three years. Open Text has a dividend payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Open Text to earn $3.86 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 29.0%.

Open Text Price Performance

Shares of OTEX opened at $23.84 on Wednesday. The firm has a market capitalization of $5.77 billion, a PE ratio of 9.24 and a beta of 1.02. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.81 and a quick ratio of 0.81. Open Text has a fifty-two week low of $19.77 and a fifty-two week high of $39.90. The company’s 50-day moving average is $23.80 and its 200-day moving average is $23.35.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating the consensus estimate of $1.02 by $0.21. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. Open Text had a net margin of 12.26% and a return on equity of 25.76%. Open Text’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 earnings per share. Equities analysts forecast that Open Text will post 3.72 EPS for the current year.

About Open Text

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.