EXTON, Pa. - Bentley Systems, Incorporated (NASDAQ:BSY), a company specializing in infrastructure engineering software, has declared a quarterly cash dividend of $0.06 per share for the second quarter of 2024. The dividend is to be paid on June 13, 2024, to shareholders recorded by the close of business on June 4, 2024. This announcement was made today, reflecting the company's ongoing commitment to provide returns to its investors.
The dividend declaration follows Bentley Systems' operational performance and is a part of its capital allocation strategy. While the company has expressed intentions to continue providing quarterly dividends, it also notes that future payouts are subject to the board's assessment of the company's financial health and other relevant factors. Such factors may include changing macroeconomic conditions, the aftermath of the pandemic, business capital requirements, and potential alterations in tax laws affecting dividend distribution.
Bentley Systems has established itself as a key player in the infrastructure engineering software market, offering a suite of solutions that cater to the design, construction, and operation of various infrastructure projects. The company's product portfolio, powered by its iTwin Platform, includes well-known applications like MicroStation and Bentley Open, as well as Seequent's software for geoprofessionals. Furthermore, Bentley Systems provides a comprehensive cloud offering, including ProjectWise for project delivery, SYNCHRO for construction management, and AssetWise for asset operations.
Headquartered in Exton, Pennsylvania, Bentley Systems operates globally with a presence in 194 countries and generates annual revenues surpassing $1 billion. The company employs over 5,200 individuals worldwide.
InvestingPro Insights
Bentley Systems (NASDAQ:BSY) has recently affirmed its commitment to rewarding shareholders with the announcement of its upcoming quarterly cash dividend. In light of this, a closer examination of the company's financial metrics and analyst insights from InvestingPro can provide a deeper understanding of its current valuation and performance.
InvestingPro Tips indicate that Bentley Systems is trading at a high earnings multiple, with a P/E ratio of 47.58, which is slightly adjusted to 46.47 when considering the last twelve months as of Q1 2024. This suggests that investors are willing to pay a premium for the company's earnings potential. Moreover, the company's impressive gross profit margin of 79.48% over the same period showcases its ability to maintain profitability. Analysts predict that Bentley Systems will be profitable this year, which aligns with the company's trajectory of providing consistent shareholder returns.
On the flip side, three analysts have revised their earnings downwards for the upcoming period, which could signal caution for potential investors. Additionally, the company is noted to operate with a moderate level of debt, a factor that should be weighed against its financial obligations.
From the InvestingPro Data, we see that Bentley Systems has a market capitalization of $16.88 billion USD, reflecting its significant presence in the infrastructure engineering software market. The company's revenue has grown by 10% over the last twelve months as of Q1 2024, reaching $1.25 billion USD, indicating a steady upward trajectory in its financial performance.
For readers looking to delve deeper into Bentley Systems' financials and gain additional insights, there are more InvestingPro Tips available at https://www.investing.com/pro/BSY. These tips can provide valuable guidance for informed investment decisions. Additionally, users can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of expert analysis and data.
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