VeriSign, Inc. (NASDAQ:VRSN) to Issue Dividend Increase – $0.81 Per Share

VeriSign, Inc. (NASDAQ:VRSN) declared a quarterly dividend on Thursday, February 5th. Shareholders of record on Thursday, February 19th will be paid a dividend of 0.81 per share by the information services provider on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, February 19th. This is a 5.2% increase from VeriSign’s previous quarterly dividend of $0.77.

VeriSign has a dividend payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings.

VeriSign Stock Performance

VRSN opened at $242.62 on Friday. The company’s 50-day simple moving average is $246.61 and its two-hundred day simple moving average is $260.12. The stock has a market capitalization of $22.49 billion, a P/E ratio of 28.28 and a beta of 0.75. VeriSign has a 52-week low of $216.43 and a 52-week high of $310.60.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.06). VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The company had revenue of $425.30 million for the quarter, compared to analysts’ expectations of $424.04 million. During the same period in the previous year, the firm earned $2.00 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis.

Insider Activity at VeriSign

In related news, CEO D James Bidzos sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $244.59, for a total transaction of $1,222,950.00. Following the completion of the transaction, the chief executive officer directly owned 434,099 shares in the company, valued at approximately $106,176,274.41. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 37,496 shares of company stock valued at $9,248,893 over the last 90 days. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On VeriSign

Large investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC increased its stake in shares of VeriSign by 112.5% in the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock worth $28,000 after purchasing an additional 54 shares in the last quarter. Root Financial Partners LLC bought a new position in VeriSign in the 3rd quarter worth $29,000. Ameritas Advisory Services LLC purchased a new stake in VeriSign in the 2nd quarter worth $34,000. Bayforest Capital Ltd bought a new stake in VeriSign during the second quarter valued at about $34,000. Finally, Sunbelt Securities Inc. raised its holdings in VeriSign by 429.2% during the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock valued at $36,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

About VeriSign

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.