Saturday, August 1st19.3°C
26264
22748

Open Text to split stock two-for-one, Q2 profit down from year ago

WATERLOO, Ont. - Business software company Open Text Corp. (TSX:OTC) said Thursday that it will split its stock two-for-one next month.

The company said the move is aimed at making its shares more accessible to individual shareholders, increase and broaden its shareholder base and improve liquidity.

Open Text shares closed down 39 cents at $100.19 on the Toronto Stock Exchange.

The company said the record date for the split will be Feb. 7, and the payment date will be Feb. 18. Open Text's shares are expected to begin trading on a post-stock dividend basis on Feb. 19.

The announcement of the split came as the company, which keeps its books in U.S. dollars, said it earned a quarterly profit of US$53.5 million, down from $61.1 million a year ago.

On a per share basis, the company said it earned 90 cents for the quarter ended Dec. 31, down from $1.04 per share in the last three months of 2012.

Revenue in what was Open Text's second quarter increased to US$363.5 million from $352.2 million.

In November, Open Text announced a $1.17-billion cash-and-stock deal to acquire cloud-technology provider GXS Group.

Open Text will pay about $1.07 billion in cash and $100 million of its stock.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14468.44+85.68
S&P CDNX594.31+6.01
DJIA17689.86-56.12
Nasdaq5128.28-0.50
S&P 5002103.84-4.79
CDN Dollar0.7640-0.0052
Gold1096.90+0.60
Oil47.22-1.69
Lumber252.30+0.50
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.42+0.00
Cantex0.035-0.005
Anavex Life Sciences0.9101+0.1101
Metalex Ventures0.05+0.00
Russel Metals19.40-0.05
Copper Mountain Mining0.79+0.01
Colorado Resources0.065+0.005
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.095-0.045
Decisive Dividend Corp2.55+0.05

 



24947

FEATURED Property
19019878607 Front Bench Road
147873 bedrooms
$1,200,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_








Member of BC Press Council


26010