Xerox Holdings Co. (NASDAQ:XRX) to Issue $0.03 Quarterly Dividend

Xerox Holdings Co. (NASDAQ:XRX) announced a quarterly dividend on Thursday, February 19th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.025 per share by the information technology services provider on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, March 31st.

Xerox has decreased its dividend by an average of 0.3%per year over the last three years. Xerox has a payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

NASDAQ XRX remained flat at $1.86 during mid-day trading on Friday. 3,662,114 shares of the company were exchanged, compared to its average volume of 3,646,240. The business’s 50-day moving average price is $2.37 and its two-hundred day moving average price is $3.07. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 8.94. Xerox has a 52 week low of $1.81 and a 52 week high of $8.12. The firm has a market cap of $238.15 million, a PE ratio of -0.23 and a beta of 1.72.

Xerox (NASDAQ:XRX) last posted its quarterly earnings results on Thursday, January 29th. The information technology services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.25). Xerox had a negative return on equity of 8.26% and a negative net margin of 14.65%.The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. As a group, equities research analysts expect that Xerox will post 1.07 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Xerox by 339.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,294,446 shares of the information technology services provider’s stock worth $22,028,000 after purchasing an additional 7,178,915 shares during the last quarter. Marshall Wace LLP boosted its stake in Xerox by 71.0% in the 2nd quarter. Marshall Wace LLP now owns 3,928,444 shares of the information technology services provider’s stock worth $20,703,000 after buying an additional 1,630,999 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Xerox by 32.3% in the 4th 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 stake in shares of Xerox by 24.4% during the 4th quarter. Geode Capital Management LLC now owns 2,915,580 shares of the information technology services provider’s stock valued at $6,911,000 after acquiring an additional 571,715 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Xerox by 43.2% in the third quarter. Two Sigma Investments LP now owns 2,476,689 shares of the information technology services provider’s stock valued at $9,312,000 after purchasing an additional 746,582 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

About Xerox

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.