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.

MiX Telematics (NYSE:MIXT) last released its earnings results on Thursday, November 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.05. The company had revenue of $497.00 million during the quarter, compared to analyst estimates of $459.37 million. MiX Telematics had a net margin of 10.58% and a return on equity of 13.30%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. As a group, analysts predict that MiX Telematics will post 0.63 EPS for the current fiscal year.

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.

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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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Dividend History for MiX Telematics (NYSE:MIXT)

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