Business process and document management company
) recently declared a dividend of 5.75 cents per share or 23
cents on an annualized basis. The second quarter 2013 dividend is
payable on Jul 31 to shareholders of record as of Jun 28.
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XEROX CORP (XRX): Free Stock Analysis Report
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Xerox had earlier hiked its dividend payout in first quarter 2013
by 35% year over year. Based on the closing price of $8.81 on May
22, 2013, the dividend affirms a yield of 2.6%. A steady dividend
payout is part of the long-term strategy of Xerox to provide
attractive risk-adjusted returns to its stockholders.
The company also has a share repurchase program in place, under
which it repurchased shares worth $1.05 billion in 2012. Xerox
has consistently returned significant cash to its shareholders
through dividends and share repurchases. In 2013, the company
intends to have similar share repurchase levels as in the
In addition, Xerox has a healthy liquidity position. Cash and
cash equivalents aggregated $993 million at quarter-end. In order
to better adapt to the changing market trends, Xerox is
continually shifting its business model by expanding its indirect
distribution channel and streamlining its supply chain and
product portfolio. The company expects these operational changes
to yield higher margins going forward, thereby enabling it to
maintain its strong market share in Document Technology business.
Headquartered in Norwalk, CT, Xerox is a leader in the
development, manufacture, marketing, servicing and financing of
document equipment across the world. The company also provides
extensive leading-edge document technology, services, software
and genuine Xerox supplies for graphic communication and office
printing environments of any size.
The company has three segments - Technology, Services and Others.
Xerox is looking forward to expanding its offerings through
inorganic measures and new acquisitions, which in turn, will help
it to add more clients to its portfolio.
Xerox currently has a Zacks Rank #3 (Hold). Other players in the
industry worth reckoning include
Concurrent Computer Corporation
Mentor Graphics Corp.
), each carrying a Zacks Rank #2 (Buy).