Saturday, May 23rd15°C
26424
25263

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

26341


Recent Trending




Today's Market
S&P TSX15200.76-2.85
S&P CDNX703.48+2.97
DJIA18232.02-53.72
Nasdaq5089.36-1.43
S&P 5002126.06-4.76
CDN Dollar0.8142-0.0053
Gold1205.70+1.30
Oil57.45-1.98
Lumber273.30+3.70
Natural Gas2.885-0.064

 
Okanagan Companies
Pacific Safety0.13-0.01
Knighthawk0.010.00
QHR Technologies Inc1.48+0.03
Cantex0.03-0.01
Anavex Life Sciences0.425+0.053
Metalex Ventures0.09+0.01
Russel Metals25.79-0.03
Copper Mountain Mining1.38-0.03
Colorado Resources0.105+0.005
ReliaBrand Inc0.0048-0.0049
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation2.20+0.60

 



26416

FEATURED Property
2298892Exceptional Custom Predator Ridge Home
$2,100,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_



26112

26112


Member of BC Press Council


24843