Formula Systems (1985) Ltd. (NASDAQ:FORTY) has announced a quarterly dividend of $0.50 per share, which will be distributed to investors on January 23, 2024. This decision, confirmed on December 1, 2023, is set to benefit shareholders who are on record by December 30, 2023. The dividend reflects an annualized yield of 1.2%, indicating the company’s commitment to returning value to its investors.
The upcoming dividend marks a continuation of Formula Systems’ strategy to provide consistent returns, although the company has not increased its dividend over the past three years, maintaining an average growth rate of 0.0% during that period. The ex-dividend date, which is important for investors to note, is also set for December 30.
Stock Performance and Market Position
On the trading floor, shares of Formula Systems experienced a notable increase on Tuesday, rising by $14.58 to reach $164.33. A total of 1,572 shares exchanged hands, which is higher than the company’s average trading volume of 850 shares. Over the past year, Formula Systems’ stock has fluctuated between a low of $80.15 and a high of $169.03. The company currently holds a market capitalization of $2.52 billion, with a price-to-earnings ratio of 33.06 and a beta of 0.94.
In terms of financial health, Formula Systems maintains a debt-to-equity ratio of 0.17, which indicates a relatively low level of debt compared to equity. The company’s current ratio stands at 1.21, with a quick ratio of 1.17, suggesting a solid liquidity position.
Analysts’ Insights and Company Overview
In a recent analysis, Weiss Ratings reiterated a “hold” rating for Formula Systems shares, reflecting a cautious outlook among analysts. Currently, one investment analyst has assigned a “hold” rating, leading to a consensus rating of “hold” according to data from MarketBeat.
Formula Systems (1985) Ltd. operates through its subsidiaries, offering a wide range of software solutions, IT professional services, and support for computer infrastructure. The company specializes in marketing computer and telecommunication equipment and provides cloud-based solutions, particularly in the areas of databases and big data.
Investors interested in Formula Systems can stay informed on the latest news and performance updates through various financial news platforms. The company’s ongoing commitment to delivering value to shareholders, coupled with its solid market position, positions it well for continued engagement with its investor base.
