Tuesday, August 19th18.9°C
21790

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

22551


Recent Trending




Today's Market
S&P TSX15477.17+138.70
S&P CDNX997.566.94
DJIA16919.5980.85
Nasdaq4527.514+19.202
S&P 5001981.60+9.86
CDN Dollar0.9131-0.0011
Gold1295.40+0.30
Oil95.12+0.64
Lumber354.50+1.90
Natural Gas3.851-0.026

 
Okanagan Companies
Pacific Safety0.185-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.200.00
Cantex0.07+0.005
Anavex Life Sciences0.26+0.03
Metalex Ventures0.0850.00
Russel Metals37.22-0.15
Copper Mountain Mining2.77-0.11
Colorado Resources0.17-0.01
ReliaBrand Inc0.077-0.003
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.200.00

 



22942

FEATURED Property
2030575152 Celano Crescent
4 bedrooms 3 baths
$448,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Going home to a bully!

Finally, after three months in New Brunswick, I am back home in the sunny Okanagan. It is a delight to be home and the lake, vistas, people and climate never disappoint. Like many people however, I...


Managing a business in 40 hours a week

My screen printing business, like many others, started as a one-man operation. It was located in a small building, not much better than a shack, with a telephone, a big table where I ate lunch and (oc...


The emperor's new clothes

The wealth market faces increasing competition and declining product differentiation. The wealth industry is responding to these emerging trends with “new” and “unique” investm...

_








Member of BC Press Council


22937