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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) announced a special dividend on Tuesday, August 25th. Shareholders 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 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) Stock Performance

NASDAQ:FORTY opened at $119.20 on Friday. The firm’s 50-day moving average is $115.46 and its 200-day moving average is $122.49. Formula Systems has a 52-week low of $102.01 and a 52-week high of $190.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 2.99 and a beta of 1.21.

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

Formula Systems (1985) Company Profile

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.