MiX Telematics Ltd – Plans Special Dividend of $0.05 (MIXT)
MiX Telematics Ltd – (NYSE:MIXT) announced a special dividend on Tuesday, November 6th, Wall Street Journal reports. Investors of record on Friday, November 23rd will be given a dividend of 0.0529 per share by the technology company on Thursday, December 6th. This represents a yield of 1.26%. The ex-dividend date is Wednesday, November 21st.
MiX Telematics has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MiX Telematics to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 22.9%.
MiX Telematics stock traded down $0.08 during midday trading on Friday, hitting $17.60. The stock had a trading volume of 151,590 shares, compared to its average volume of 87,847. The firm has a market capitalization of $399.16 million, a price-to-earnings ratio of 30.34 and a beta of 0.48. MiX Telematics has a 52-week low of $11.12 and a 52-week high of $21.00.
A number of equities research analysts have issued reports on the stock. Raymond James increased their price objective on shares of MiX Telematics from $24.00 to $28.00 and gave the company a “strong-buy” rating in a report on Friday. Zacks Investment Research upgraded MiX Telematics from a “sell” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Tuesday, October 23rd. Finally, ValuEngine upgraded MiX Telematics from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th.
About MiX Telematics
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
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