Gen Digital Inc. to Issue Quarterly Dividend of $0.13 (NASDAQ:GEN)

Gen Digital Inc. (NASDAQ:GEN) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Shareholders of record on Monday, November 18th will be paid a dividend of 0.125 per share on Wednesday, December 11th. This represents a $0.50 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, November 18th.

Gen Digital has a payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gen Digital to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 22.4%.

Gen Digital Price Performance

Shares of NASDAQ:GEN opened at $29.58 on Friday. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 1.38 and a beta of 0.80. The firm has a fifty day moving average price of $27.63 and a 200 day moving average price of $25.68. Gen Digital has a fifty-two week low of $19.08 and a fifty-two week high of $30.89. The company has a debt-to-equity ratio of 3.40, a quick ratio of 0.32 and a current ratio of 0.32.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised shares of Gen Digital to a “strong-buy” rating in a report on Thursday, October 24th.

About Gen Digital

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.