Xerox Corporation (NYSE:XRX) announces quarterly dividend


Dallas, Texas 10/04/2013 (Financialstrend) – Xerox Corporation (NYSE:XRX) has announced that its stock will go ex dividend on September 26. This would be in context to its quarter dividend payout of $0.0575 per share which will be paid out to its customers as on October 31. This translates to a forward dividend yield of 2.21% over the past one year. It has paid out close to $0.23 per share for the year till date.  This technology behemoth is tracked by S&P 500   with a market cap of $12.8 billion. It had managed a net income of $1.18 million from sales of close to $21 billion. It had managed to just about grow its sales by 0.6% compared to previous quarter. It profit margin and operations margin for the year too are under pressure. Profit margin is down to 5.3% and operations margin is down to 7.4% over the past 12 months trailing period.

As of close of business on October 3, the share price was down by 1% from its previous day closing to end the day at $10.4. This price valuation is just 1.14% short of reaching its 52 week high valuation.  At the opposite end it is up 74% from its 52 week low valuation. Through the last 12 months, investors in the stock would have observed an over 45% appreciation in value of the stock.

In its bid to remain current in the fast paced technology sector the company has been trying to reinvent itself over the past couple of years and move away from its traditional printing/copying hardware business. In context is its August 13 announcement of taking over the Canadian “Pension Software Firm” CPAS Systems.

The software company develops “pension administration and record-keeping software” for its customers.  The bought over company has a huge install base of close to 2 million people which Xerox hopes to tap into for selling its other complimentary products like HR solutions