RESTON, Va. - Science Applications (NASDAQ:SAIC) International Corp. (NASDAQ: SAIC), a Fortune 500 technology integrator, has declared a quarterly cash dividend of $0.37 per share, to be paid on July 26, 2024, to shareholders on record as of July 12, 2024.
The company's board of directors, which is responsible for approving dividend payments, has stated that future dividends will be subject to quarterly determination based on the company's financial health and other factors.
SAIC, known for providing advanced technology and innovation services across defense, space, civilian, and intelligence markets, emphasizes a commitment to diversity, equity, and inclusion within its workforce of approximately 24,000 employees. Headquartered in Reston, Virginia, SAIC has reported annual revenues of around $7.4 billion.
The company has expressed intentions to continue its practice of paying quarterly dividends. However, it has also noted that any declaration of future dividends is contingent upon a comprehensive assessment by the board of directors each quarter. This assessment will consider various aspects of the company's performance, including earnings, financial condition, and capital requirements.
While SAIC has made forward-looking statements regarding dividends and financial plans, it has cautioned that these are not guaranteed and are subject to risks, uncertainties, and assumptions. The company has pointed out that actual results may differ materially from these projections due to various factors.
Investors are advised that the information provided is based on a press release statement and that forward-looking statements should not be seen as guarantees of future performance. SAIC has made it clear that it does not assume any obligation to update any forward-looking statements or to comment on reports from investment analysts or other sources.
InvestingPro Insights
As Science Applications International Corp. (SAIC) continues its commitment to shareholder returns through regular dividends, InvestingPro data and insights provide a deeper look into the company's financial health and market performance.
With a market capitalization of $6.82 billion and a P/E ratio of 14.82, SAIC stands out with its value-oriented investment profile. The company's P/E ratio is particularly noteworthy, as it trades at a low multiple relative to its near-term earnings growth, suggesting an attractive valuation for investors.
One of the key InvestingPro Tips highlights that SAIC has been aggressively buying back shares, which is often seen as a sign of management's confidence in the company's future prospects.
Moreover, SAIC has maintained dividend payments for 12 consecutive years, reinforcing its reliability in returning value to shareholders. The company's shareholder yield is also considered high, which encompasses dividend payments and share repurchases, providing a comprehensive view of shareholder returns.
Despite the slight revenue contraction of -3.37% in the last twelve months as of Q4 2024, SAIC's overall return over the last decade has been high. Analysts remain optimistic, predicting profitability for the company this year, which is supported by its consistent profitability over the last twelve months.
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SAIC's commitment to dividends and its strategic financial management underscore the company's dedication to creating sustainable value for its shareholders. With the next earnings date set for June 3, 2024, investors will be watching closely for the company's performance updates and strategic directions.
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