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‘Set prior to Covid-19, the current macro-economic environment is expected to delay how quickly these objectives can be achieved’, said Megabuyte analyst Lee Prout. Dividend cover is a go-to measure of a company's net income over the dividend paid to shareholders.
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The plan would also see the company generating at least $700 million of free cash flow annually. Micro Focus International has increased its dividend payout 7 times over the past 10 years. Micro Focus published a three year ambition approximately a year ago to deliver stable revenues and adjusted EBITDA margins towards mid-40%. Dividend Cut - 10/2020 annual dividend cut from 0.5833 to 0.155.
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The share price has more than doubled since the year end yet remains a fraction of its pre-Covid £20 levels. Micro Focus International Current Yield Details - 4.88. Micro Focus stock rallied nearly 4% in morning trade on Tuesday to 510p, making it one of the biggest gainers in the FTSE 350. Dividend Pay Date Dividend Payout History, Micro Focus International (MFGP). This helps explain why investors have responded so positively to the dividend news. Micro Focus International plc (MFGP) NYSE - Nasdaq Real Time Price. Micro Focus reported revenues down 10% to $3 billion, while adjusted earnings before interest, tax, depreciation and amortisation ( EBITDA) fell 14% to $1.2 billion equating to a 39.1% margin which was towards the upper end of expectations. The dividend will cost a relatively small $50.3 million.ĭespite the heavy losses, the results were largely as expected, albeit after being downgraded last April. Net debt was also cut from $4.6 billion to $4.2 billion. Operating cash flow totalled $1.1 billion last year, comfortably covering interest payments of $207 million, bank loan costs ($47.9 million), tax ($150 million), capex ($87 million) and lease-related capital payments ($80.1 million).
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Micro Focus plans to make a $0.15 shareholder payout after seeing typically strong cash flows during the year to 31 October 2020, despite the pandemic.
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Infrastructure software firm Micro Focus ( MCRO) has reintroduced dividends despite running up an enormous $2.97 billion pre-tax loss after taking a $2.8 billion goodwill write-down on its underperforming HPE assets. Micro Focus International plc ('Micro Focus' or 'the Company') today announces that the Board is no longer recommending a final dividend for the year ended 31 October 2019 and therefore it intends to withdraw resolution number 2 as set out in the Notice of Annual General Meeting dated 18 February 2020 (the 'Notice') relating to the approval of a proposed final dividend of 58.33 cents per.