Ex-Dividend Alert: Seagate Technology Has a Dividend Yield of 4.42%; Will Trade Ex-Dividend on June 19, 2018

LONDON, UK / ACCESSWIRE / June 18, 2018 / 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 June 19, 2018. 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 June 18, 2018. 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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Dividend Declared

On May 01, 2018, Seagate's Board of Directors approved a quarterly cash dividend of $0.63 per share, which will be payable on July 05, 2018, to shareholders of record as of the close of business on June 20, 2018.

Seagate's indicated dividend represents a yield of 4.42%, which is more than four times higher than the average dividend yield of 1.07% for the Technology sector. The Company has raised its dividend for seven years in a row.

Dividend Insights

Seagate has a dividend payout ratio of 47.2%, which means that the Company spends approximately $0.47 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.

As per analysts' estimates, Seagate is forecasted to report earnings of $5.50 per share for the next year, which is more than double compared to the Company's annualized dividend payout of $2.52 per share.

During the third quarter fiscal 2018, ended on March 30, 2018, Seagate generated $558 million in cash flow from operations and $489 million in free cash flow. On a year-to-date basis, the Company had generated approximately $1.6 billion in cash flow from operations and approximately $1.4 billion in free cash flow. As of March 30, 2018, Seagate's cash and cash equivalents totaled approximately $2.9 billion. 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 Development for Seagate

On June 01, 2018, Seagate announced that the Company, along with a consortium of investors led by Bain Capital Private Equity, completed the previously announced acquisition of Toshiba Memory Corporation by K. K. Pangea, a Japanese company formed for purposes of the Acquisition. The Company funded the investment of approximately $1.27 billion by utilizing cash from its balance sheet.

About the Seagate Technology PLC

Seagate Technology provides data storage technology and solutions in Singapore, the US, 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. Its products are used in enterprise servers and storage systems applications; client compute applications, and client non-compute applications.

Seagate was founded in 1979 and is headquartered in Dublin, Ireland.

Stock Performance Snapshot

June 15, 2018 - At Friday's closing bell, Seagate Technology's stock declined 1.10%, ending the trading session at $58.43.

Volume traded for the day: 4.06 million shares, which was above the 3-month average volume of 3.82 million shares.

Stock performance in the previous six-month period – up 38.85%; past twelve-month period – up 40.73%; and year-to-date – up 39.65%

After last Friday's close, Seagate Technology's market cap was at $17.58 billion.

Price to Earnings (P/E) ratio was at 16.30.

The stock has a dividend yield of 4.31%.

The stock is part of the Technology sector, categorized under the Data Storage Devices industry.

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