• 
• See all for Dividend.com
• View Print Version

• Best Dividend Stocks
• High-Yield Dividend Stocks
• Ex-Dividend Calendar

• STX 82% Rate It

Storage device maker Seagate Technology ( STX ) late Monday posted disappointing fiscal fourth quarter earnings results, but lifted its quarterly dividend payout by 28%.

The Dublin, Ireland-based company reported fiscal fourth quarter net income of $1 billion, or $2.37 per share, compared with $119 million, or 27 cents per share, in the year-ago period. Excluding special items, adjusted profit was $2.41 per share.

Revenue surged 57% from last year to $4.5 billion.

On average, Wall Street analysts expected a higher profit of $2.50 per share, on larger revenue of $4.55 billion.

On a positive note, STX raised its quarterly dividend payout by 28%. The new dividend of 32 cents per share (up from 25 cents previously) will be paid on Aug. 29 with an ex-dividend date of Aug. 10.

Seagate shares fell 58 cents, or -1.9%, in aftermarket trading Monday.

The Bottom Line
Shares of Seagate Technology ( STX ) will now have a 4.21% dividend yield, based on the higher dividend payout and today's closing stock price of $30.43. The stock has technical support in the $25-$26 price area. The stock is trading near 52-week highs.

Seagate Technology ( STX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

Related Stocks Articles

• 
  M&T Bank to Improve Compliance - Analyst Blog
  6/19/2013 07:25 PM
• 
  New Low-Power Amplifier by Microchip - Analyst Blog
  6/19/2013 07:15 PM
• 
  U.S. Bancorp Hikes Dividend - Analyst Blog
  6/19/2013 07:10 PM