Oracle Declares First Dividend Ever
- March 18, 2009
- Dividend Stocks
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Software company Oracle (ORCL: 28.89 +0.56%) declared their very first quarterly dividend today after posting better than expected third quarter profits.
The quarterly cash dividend will be $.05 per share, putting the company’s dividend yield at 1.3%.
“We are committed to delivering value to our stockholders through technology innovation, strategic acquisitions, stock repurchases, and now through a dividend,” said Safra Catz, Oracle’s President. “We generated $8.0 billion in free cash flow over the last twelve months and we are running our business at record operating margins. We have always been committed to rewarding our stockholders’ investments in Oracle and the Board has decided that it is the right time to declare a dividend for our stockholders.”
The dividend will be payable on May 8, 2009 to shareholders of record as of April 8, 2009.
The quarterly cash dividend will be 5 cents a share, with the first payment coming on May 8.
The market reacted positively to the dividend announcement, sending Oracle’s shares up 6% to $16.78 in after-hours trading.
