Xerox Holdings Co. Plans Quarterly Dividend of $0.03 (NASDAQ:XRX)

Xerox Holdings Co. (NASDAQ:XRXGet Free Report) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.025 per share by the information technology services provider on Friday, October 30th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, September 30th.

Xerox has decreased its dividend by an average of 0.3%annually over the last three years. Xerox has a payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Xerox to earn $0.87 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 11.5%.

Xerox Price Performance

Xerox stock opened at $3.14 on Thursday. The stock has a market capitalization of $410.65 million, a P/E ratio of -0.43 and a beta of 2.40. The company’s fifty day moving average price is $3.03 and its 200 day moving average price is $2.32. The company has a debt-to-equity ratio of 12.58, a quick ratio of 0.85 and a current ratio of 1.18. Xerox has a 1 year low of $1.19 and a 1 year high of $4.60.

Institutional Investors Weigh In On Xerox

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in shares of Xerox by 339.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,294,446 shares of the information technology services provider’s stock valued at $22,028,000 after buying an additional 7,178,915 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Xerox by 32.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,498,232 shares of the information technology services provider’s stock valued at $8,291,000 after buying an additional 854,119 shares during the period. Geode Capital Management LLC increased its position in shares of Xerox by 24.4% in the fourth quarter. Geode Capital Management LLC now owns 2,915,580 shares of the information technology services provider’s stock worth $6,911,000 after acquiring an additional 571,715 shares in the last quarter. Two Sigma Investments LP boosted its position in Xerox by 43.2% during the 3rd quarter. Two Sigma Investments LP now owns 2,476,689 shares of the information technology services provider’s stock worth $9,312,000 after purchasing an additional 746,582 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in shares of Xerox by 89.4% in the fourth quarter. First Eagle Investment Management LLC now owns 2,182,500 shares of the information technology services provider’s stock worth $5,173,000 after buying an additional 1,030,000 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

About Xerox

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Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.

Further Reading

Dividend History for Xerox (NASDAQ:XRX)

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