Seagate Technology PLC : EX-Dividend Schedule: Seagate Technology has a Dividend Yield of 6.01%; Will Trade Ex-Dividend on December 19, 2017
LONDON, UK / ACCESSWIRE / December 18, 2017 / Active-Investors has a free review on Seagate Technology PLC (NASDAQ: STX) ("Seagate") following the Company's announcement that it will begin trading ex-dividend on December 19, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on December 18, 2017. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on STX:
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On October 23, 2017, Seagate's Board of Directors approved a quarterly cash dividend of $0.63 per share, which will be payable on January 03, 2018, to shareholders of record as of the close of business on December 20, 2017.
Seagate's indicated dividend represents a yield of 6.01%, which is more than three times the average dividend yield of 1.23% for the Technology sector. The Company has raised dividend for six consecutive years.
Seagate has a dividend payout ratio of 63.2%, which means that the Company spends approximately $0.63 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Seagate is forecasted to report earnings of $4.15 per share for the next year, which is substantially above the Company's annualized dividend of $2.52 per share.
During the first quarter fiscal 2018 ended on September 29, 2017, Seagate generated $237 million in cash flow from operations and returned approximately $350 million to shareholders in the form of dividends and share repurchases. The Company's cash and cash equivalents totaled approximately $2.3 billion at the end of the quarter. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Developments for Seagate
On October 28, 2017, Seagate announced its SkyHawk? AI hard disk drive (HDD), the first drive created specifically for artificial intelligence (AI) enabled video surveillance solutions. SkyHawk AI provides unprecedented bandwidth and processing power to manage n, data-intensive workloads, while simultaneously analyzing and recording footage from multiple HD cameras.
SkyHawk AI is ideal for intensive computational workloads that typically accompany AI work streams, as its high throughput and enhanced caching deliver low latency and excellent random read performance to quickly locate and deliver video images and footage analysis. This enables on-the-edge decision making, eliminating the latency of exchanging cloud-based data and processing.
About Seagate Technology PLC
Seagate provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The Company manufactures and distributes hard disk drives, solid-state drives, and their related controllers, solid state hybrid drives, and storage subsystems. Seagate's products are used in enterprise servers and storage systems applications; client computer applications, and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.
Seagate was founded in 1979 and is headquartered in Dublin, Ireland.
Stock Performance Snapshot
December 15, 2017 - At Friday's closing bell, Seagate Technology's stock slightly rose 0.19%, ending the trading session at $42.02.
Volume traded for the day: 6.24 million shares, which was above the 3-month average volume of 4.99 million shares.
Stock performance in the last month ? up 11.13%; previous three-month period ? up 25.36%; past twelve-month period ? up 3.50%; and year-to-date ? up 10.09%
After last Friday's close, Seagate Technology's market cap was at $12.19 billion.
Price to Earnings (P/E) ratio was at 15.89.
The stock has a dividend yield of 6.00%.
The stock is part of the Technology sector, categorized under the Data Storage Devices industry. This sector was up 0.9% at the end of the session.
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