Formula Systems (1985) Ltd. Plans Special Dividend of $1.63 (NASDAQ:FORTY)

Formula Systems (1985) Ltd. (NASDAQ:FORTY) announced a special dividend on Tuesday, August 25th. Investors of record on Tuesday, September 22nd will be given a dividend of 1.63 per share by the technology company on Friday, October 16th. This represents a dividend yield of 259.0%. The ex-dividend date is Tuesday, September 22nd.

Formula Systems (1985) has increased its dividend payment by an average of 0.4%annually over the last three years.

Formula Systems (1985) Price Performance

Shares of FORTY opened at $119.20 on Friday. The firm has a 50 day moving average of $115.46 and a 200 day moving average of $122.49. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13. Formula Systems has a twelve month low of $102.01 and a twelve month high of $190.56. The company has a market capitalization of $1.83 billion, a P/E ratio of 2.99 and a beta of 1.21.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $1.47 earnings per share for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Formula Systems (1985) has a consensus rating of “Hold”.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israeli information technology holding company that invests in and manages businesses providing software, technology consulting and information technology services. The company operates primarily through its subsidiaries and serves enterprises, government organizations and other institutions across a range of industries.

Its principal subsidiaries include Matrix IT, which provides information technology services, systems integration, consulting, outsourcing and cybersecurity solutions; Magic Software Enterprises, which develops application software and provides digital transformation, cloud, data and professional services; and Sapiens International, which supplies software platforms and related services for the insurance industry, including solutions for property and casualty, life and retirement insurance.

Founded in 1985, Formula Systems has expanded its activities beyond Israel through subsidiaries and operating units serving customers in North America, Europe, Israel and other international markets.