Xerox Copies Dividend for Second Quarter

Copy specialist Xerox  (NYSE: XRX  ) will pay a second-quarter dividend of $0.0575 per share, the same rate it paid last quarter after raising the payout 5% from $0.0425 per share, the company announced yesterday.

The board of directors said the quarterly dividend is payable on July 31 to the holders of record at the close of business on June 28. Xerox has paid quarterly dividends since 1971. The board also declared a quarterly cash dividend of $20 per share on Xerox Series A Convertible Perpetual Preferred Stock.

The regular dividend payment equates to a $0.23-per-share annual dividend yielding 2.6% based on the closing price of Xerox's stock on May 21.

XRX Dividend Chart

XRX Dividend data by YCharts.

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  • Report this Comment On May 22, 2013, at 11:46 AM, notthisagain wrote:

    A dividend raise of 5%?

    I hope this is just a typo mistake.

    25% of .0425 is one fourth or .010625 less than the raise to .0575.

    My calculator tells me that .0425 plus 35% equals 0.057375, pretty close.

    This is not the first time I have read quoted dividend raises that are way off. What gives with the different math methods used?

  • Report this Comment On May 23, 2013, at 11:09 AM, profitminded wrote:

    Also ...

    Xerox has NOT continually paid dividends since 1971 as the article suggests. No dividends were paid 2001-2007 (or so)

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