Ex-Dividend Alert: Monotype Imaging Announced a 3% Dividend Hike; Will Trade Ex-Dividend on March 29, 2018
LONDON, UK / ACCESSWIRE / March 28, 2018 / Active-Investors has a free review on Monotype Imaging Holdings Inc. (NASDAQ: TYPE) following the Company's announcement that it will begin trading ex-dividend on March 29, 2018. To capture the dividend payout, investors are required to purchase the stock a day prior to the ex-dividend date, that is latest by the end of the trading session on March 28, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on TYPE:
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Dividend Declared
On February 16, 2018, Monotype Imaging's Board of Directors approved a 3% increase to the Company's quarterly dividend payment. As a result, a dividend of $0.116 per share will be paid on April 20, 2018, to shareholders of record as of the close of business on April 02, 2018.
Monotype Imaging's indicated dividend represents a yield of 2.00%, which is substantially higher than the average dividend yield for the Technology sector. The Company has raised its dividend for five consecutive years.
Dividend Insight
Monotype Imaging has a dividend payout ratio of 92.8%, which denotes that the Company spends approximately $0.93 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects the 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.
According to analysts' estimates, Monotype Imaging is forecasted to report earnings of $0.94 per share for the next year, which is substantially higher than the Company's annualized dividend of $0.46 per share.
Monotype Imaging had cash and cash equivalents of $82.8 million as of December 31, 2017, compared to $91.4 million as of December 31, 2016. The Company generated $12.1 million of cash from operations in Q4 2017 and $32.9 million for the full year 2017.
During Q4 2017, Monotype Imaging repaid $3.0 million on its outstanding revolving line of credit. In Q4 2017, the Company repurchased 24,000 shares of common stock on the open market at prevailing market prices for a total consideration of approximately $500,000 as part of the stock repurchase program announced in August 2016, which expired on December 31, 2017. The Company's strong financial position indicates the its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Monotype Imaging
On February 20, 2018, Monotype Imaging introduced Mosaic - a cloud-based font solution that provides an easy way for global organizations and creative teams to discover, manage, share and deploy fonts.
Mosaic simplifies the workflow of licensing and working with Monotype fonts by providing organizations with a single solution to discover fonts (by industry, similarity, font pairings and keywords); access and experiment with an extensive global library of fonts from more than 2,500 font families, covering more than 95% of the world's most commonly spoken languages, easily license brand fonts for use across multiple environments including print, web, digital ads, apps, AR/VR etc., and collaborate on creative projects across the organization and manage font usage rights for internal/external stakeholders.
About Monotype Imaging Holdings Inc.
Monotype Imaging develops, markets, and licenses technologies and fonts in the United States, the United Kingdom, Germany, Japan, and rest of Asia. The Company offers font products, including its own fonts from the Monotype Libraries, as well as fonts from third parties through its ecommerce Website. The Company provides approximately 14,000 typefaces designs and supports approximately 250 Latin and non-Latin languages. Monotype Imaging is headquartered in Woburn, Massachusetts.
Stock Performance Snapshot
March 27, 2018 - At Tuesday's closing bell, Monotype Imaging's stock dropped 1.74%, ending the trading session at $22.65.
Volume traded for the day: 249.24 thousand shares.
Stock performance in the previous six-month period – up 24.11%; and past twelve-month period – up 17.05%
After yesterday's close, Monotype Imaging's market cap was at $949.49 million.
The stock has a dividend yield of 2.03%.
The stock is part of the Technology sector, categorized under the Application Software industry.
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