Latest news with #MirlandaGecaj
Yahoo
24-05-2025
- Business
- Yahoo
Xerox Holdings Corporation (XRX) Cuts Dividend Again, Now Down to $0.025
Xerox Holdings Corporation (NASDAQ:XRX) announced that its Board of Directors has updated its dividend policy ahead of completing the Lexmark acquisition, lowering the quarterly dividend to $0.025 per share, which amounts to $0.10 annually. Based in Connecticut, Xerox Holdings Corporation (NASDAQ:XRX) specializes in creating and manufacturing print and digital document products, along with providing related services. In December 2024, Xerox Holdings Corporation (NASDAQ:XRX) had already announced a dividend cut tied to the Lexmark deal, focusing on paying down debt once the acquisition is finalized. Since then, rising yields on Xerox's publicly traded debt have increased its borrowing costs, making debt reduction even more important. In addition, the anticipated earlier closing of the Lexmark acquisition and ongoing tariff and trade uncertainties have made maintaining financial flexibility a top priority. Mirlanda Gecaj, chief financial officer, made the following comment about the recent development: 'Consistent with our previously stated capital allocation priorities to reduce leverage post-closing, we believe reducing our dividend creates greater financial flexibility to deploy cash in the most accretive manner. The dividend remains an important component of our capital allocation policy as we continue to optimize our allocation framework ahead of the Lexmark acquisition close.' XRX has a dividend yield of 11.12%, as of May 23, and the stock has declined by over 45% since the start of 2025. While we acknowledge the potential of XRX as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than XRX but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the . READ MORE: and Disclosure. None.
Yahoo
24-05-2025
- Business
- Yahoo
Xerox Holdings Corporation (XRX) Cuts Dividend Again, Now Down to $0.025
Xerox Holdings Corporation (NASDAQ:XRX) announced that its Board of Directors has updated its dividend policy ahead of completing the Lexmark acquisition, lowering the quarterly dividend to $0.025 per share, which amounts to $0.10 annually. Based in Connecticut, Xerox Holdings Corporation (NASDAQ:XRX) specializes in creating and manufacturing print and digital document products, along with providing related services. In December 2024, Xerox Holdings Corporation (NASDAQ:XRX) had already announced a dividend cut tied to the Lexmark deal, focusing on paying down debt once the acquisition is finalized. Since then, rising yields on Xerox's publicly traded debt have increased its borrowing costs, making debt reduction even more important. In addition, the anticipated earlier closing of the Lexmark acquisition and ongoing tariff and trade uncertainties have made maintaining financial flexibility a top priority. Mirlanda Gecaj, chief financial officer, made the following comment about the recent development: 'Consistent with our previously stated capital allocation priorities to reduce leverage post-closing, we believe reducing our dividend creates greater financial flexibility to deploy cash in the most accretive manner. The dividend remains an important component of our capital allocation policy as we continue to optimize our allocation framework ahead of the Lexmark acquisition close.' XRX has a dividend yield of 11.12%, as of May 23, and the stock has declined by over 45% since the start of 2025. While we acknowledge the potential of XRX as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than XRX but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the . READ MORE: and Disclosure. None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Xerox shares plunges after slashing dividend ahead of Lexmark deal
-- Shares of Xerox Corp (NASDAQ:XRX) fell sharply after-hours Thursday, down 15%, following the company's announcement of an 80% reduction in its quarterly dividend. The move comes as Xerox prepares for the acquisition of Lexmark, which has prompted a strategic shift in capital allocation to prioritize debt repayment. In a recent statement, Xerox declared a quarterly dividend of $0.025 per share, a significant decrease from the previous $0.125 per share. This adjustment sets the annualized dividend at $0.10, with a resulting annual yield of 2%. The new yield compares to the prior dividend yield of close to 10%. The new dividend will be payable on July 31, 2025, to shareholders of record as of June 30, 2025. The dividend cut is part of Xerox's capital allocation strategy to manage the financial implications of the upcoming Lexmark acquisition. In December 2024, Xerox signaled this change, citing the need to reduce leverage post-closing as a key driver. The company has since faced rising yields on its publicly traded debt, increasing its cost of capital. This financial pressure, coupled with the accelerated timeline for the Lexmark deal and ongoing market uncertainties due to tariffs and trade volatility, has led to a greater emphasis on maintaining financial flexibility. Xerox's CFO, Mirlanda Gecaj, emphasized the importance of this strategic move, stating, "Consistent with our previously stated capital allocation priorities to reduce leverage post-closing, we believe reducing our dividend creates greater financial flexibility to deploy cash in the most accretive manner." Gecaj reaffirmed that dividends continue to be a significant aspect of Xerox's capital allocation policy as the company fine-tunes its financial strategies in anticipation of the Lexmark acquisition. Despite the dividend reduction, Xerox maintains its 2025 guidance and expects the Lexmark transaction to be deleveraging upon closing. The acquisition is projected to be immediately accretive to adjusted earnings per share and free cash flow. Xerox also anticipates at least $238 million in synergies from the Lexmark integration, achievable within two years. The company projects that the combined cash flows of Xerox and Lexmark, along with anticipated synergies and forward flow proceeds, will substantially enhance EBITDA and free cash flow, enabling a reduction in debt towards the targeted 3x gross debt leverage level. As the company works towards reducing its gross debt leverage, Xerox plans to reassess its capital allocation priorities, including the capital returned to shareholders. Related articles Xerox shares plunges after slashing dividend ahead of Lexmark deal TSX finishes slightly higher after index inches back from record high Apple eyes 2026 smart glasses launch amid AI hardware race, Bloomberg reports
Business Wire
22-05-2025
- Business
- Business Wire
Xerox Updates Capital Allocation Policy Ahead of Lexmark Acquisition
NORWALK, Conn.--(BUSINESS WIRE)--Xerox announced today that its Board of Directors approved an update to its dividend policy in anticipation of the closing of the Lexmark transaction, reducing the quarterly dividend to $0.025 per share ($0.10 per share annualized). Accordingly, Xerox announced the declaration of a quarterly dividend of $0.025 per share on Xerox Holdings Corporation Common Stock. The dividend is payable on July 31, 2025, to shareholders of record on June 30, 2025. In December 2024, Xerox announced a reduction to its dividend in conjunction with the planned acquisition of Lexmark, reflecting the prioritization of debt repayment following acquisition close. Since then, yields on Xerox publicly traded debt have risen, resulting in an increased cost of capital and placing greater value on the reduction of debt. Further, an acceleration in the expected timing of the Lexmark transaction close and ongoing tariff and trade-related volatility have put a premium on flexibility. 'Consistent with our previously stated capital allocation priorities to reduce leverage post-closing, we believe reducing our dividend creates greater financial flexibility to deploy cash in the most accretive manner,' said Mirlanda Gecaj, chief financial officer. 'The dividend remains an important component of our capital allocation policy as we continue to optimize our allocation framework ahead of the Lexmark acquisition close.' Xerox reiterates its 2025 guidance 1 and continues to expect the Lexmark transaction to be de-levering upon transaction close and immediately accretive to adjusted 2 earnings per share and free cash flow 2. The company continues to expect synergies associated with the Lexmark transaction of at least $238 million, realizable within two years. The combined run-rate cash flows of Xerox and Lexmark, along with cash derived from future synergies and forward flow proceeds, are expected to result in significantly improved EBITDA 2 and free cash flow 2, enabling the reduction of debt toward the Company's targeted 3x gross debt leverage level. Xerox will re-evaluate its capital allocation priorities, including the amount of capital returned to shareholders, as gross debt leverage is reduced. The board also declared a quarterly dividend of $20.00 per share on the outstanding Xerox Holdings Series A Convertible Perpetual Preferred Stock. The dividend is payable on July 1, 2025, to shareholders of record on June 15, 2025. Forward Looking Statements This release and other written or oral statements made from time to time by management contain 'forward looking statements' as defined in the Private Securities Litigation Reform Act of 1995 and involve certain risks and uncertainties. The words 'anticipate', 'believe', 'estimate', 'expect', 'intend', 'will', 'would', 'could', 'can', 'should', 'targeting', 'projecting', 'driving', 'future', 'plan', 'predict', 'may' and similar expressions are intended to identify forward-looking statements. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. These statements reflect management's current beliefs and assumptions and are subject to a number of other factors that may cause actual results to differ materially. Such factors include but are not limited to: applicable market conditions; global macroeconomic conditions, including inflation, slower growth or recession, delays or disruptions in the global supply chain, higher interest rates, and wars and other conflicts, including the current conflict between Russia and Ukraine; our ability to succeed in a competitive environment, including by developing new products and service offerings and preserving our existing products and market share as well as repositioning our business in the face of customer preference, technological, and other change, such as evolving return-to-office and hybrid working trends; failure of our customers, vendors, and logistics partners to perform their contractual obligations to us; our ability to attract, train, and retain key personnel; execution risks around our Reinvention; the risk of breaches of our security systems due to cyber, malware, or other intentional attacks that could expose us to liability, litigation, regulatory action or damage our reputation; our ability to obtain adequate pricing for our products and services and to maintain and improve our cost structure; changes in economic and political conditions, licensing requirements, and tax laws in the United States and in the foreign countries in which we do business; the risk that multi-year contracts with governmental entities could be terminated prior to the end of the contract term and that civil or criminal penalties and administrative sanctions could be imposed on us if we fail to comply with the terms of such contracts and applicable law; interest rates, cost of capital, and access to credit markets; risks related to our indebtedness; the imposition of new or incremental trade protection measures such as tariffs and import or export restrictions; funding requirements associated with our employee pension and retiree health benefit plans; changes in foreign currency exchange rates; the risk that we may be subject to new or heightened regulatory or operation risks as a result of our, or third parties,' use or anticipated use of artificial intelligence technologies; the risk that our operations and products may not comply with applicable worldwide regulatory requirements, particularly environmental regulations and directives and anti-corruption laws; the outcome of litigation and regulatory proceedings to which we may be a party; laws, regulations, international agreements and other initiatives to limit greenhouse gas emissions or relating to climate change, as well as the physical effects of climate change; our ability to successfully finance and close the acquisition of Lexmark, integrate the business, and realize the anticipated benefits thereof, including expected synergies; and other factors that are set forth from time to time in the Company's Securities and Exchange Commission filings, including the combined Annual Report on Form 10-K of Xerox Holdings and Xerox Corporation. These forward-looking statements speak only as of the date hereof or of the date to which they refer, and the Company assumes no obligation to update or revise any forward-looking statements as a result of new information or future events or developments, except as required by law. About Xerox Holdings Corporation (NASDAQ: XRX) For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we are a services-led, software-enabled organization that sustainably powers the hybrid workplace of today and tomorrow. Our comprehensive suite of services and solutions, including advanced AI-driven technologies, helps businesses navigate digital transformation, optimize workflows and achieve operational excellence. Today, Xerox is continuing its legacy of innovation to deliver client-centric and digitally driven technology solutions and meet the needs of today's global, distributed workforce. Whether in an office, a classroom, or a hospital, we empower our clients to thrive in an ever-changing business landscape. Learn more at Xerox ® is a trademark of Xerox in the United States and/or other countries.
Yahoo
25-02-2025
- Business
- Yahoo
Xerox selects BearingPoint's leasing solution for its global enterprise architecture
With the integration of BearingPoint's solution as part of its enterprise architecture transformation, Xerox aims to reduce IT costs, standardize global processes, and significantly simplify its application landscape. AMSTERDAM, February 25, 2025--(BUSINESS WIRE)--Management and technology consultancy BearingPoint has announced today that Xerox has chosen the firm's leasing solution as part of its enterprise architecture transformation. By choosing BearingPoint's leasing solution, Xerox is adopting a clean core approach to streamline operations across markets and business processes. With the integration of Lease&Rent and Assets&Funding to complement SAP S/4HANA Cloud, Xerox aims to reduce IT costs, standardize global processes, and significantly simplify its application landscape. This transformation will enable Xerox to respond faster to the growing demand for leasing offerings in the market. Based in the United States, Xerox is a prominent global player in digital print technology and related solutions. Its diverse clientele ranges from small and mid-sized clients to printing production companies, governmental entities, educational institutions and Fortune 1000 corporations. In 2023, Xerox embarked on a significant transformation, shifting to a services-led, software-enabled organization as part of its Reinvention aimed at reshaping its revenue streams and ensuring sustainable profitability. Xerox is partnering with global enterprise software leader SAP on the largest IT transformation program in the company's history and BearingPoint will play a crucial part. Being fully aligned to SAP's Clean Core strategy, BearingPoint's leasing solution was exactly what Xerox was looking for. Mirlanda Gecaj, Chief Financial Officer, Xerox: "By integrating BearingPoint's leasing solution into our enterprise architecture, Xerox is taking a significant step in our Reinvention. The partnership will help streamline our processes, reduce IT costs and enable us to respond swiftly to the increasing demand for lease offerings. With this partnership, we are poised to enhance our global operations and deliver value to our clients." Xerox will leverage several key functionalities, including the Leasing Pricing Engine, Leasing Contract Lifecycle Management, Asset-Based Funding Management, and Lease Accounting integration. Built on SAP Business Technology Platform (SAP BTP) and seamlessly integrated with S/4 HANA and SAP CPQ, BearingPoint's solution will complete Xerox's target architecture, fully powered by SAP technology. Donald Wachs, Global Leader BearingPoint Products: "By choosing BearingPoint's 'Equipment-as-a-Service' (EaaS) platform, Xerox is making an important step to become more efficient while handling a growing demand for leasing offerings. Our cloud-based enterprise solution from SAP will be pivotal in Xerox's transition to a new operating model, placing the customer at the center and shifting to a global system. BearingPoint's Lease&Rent allows Xerox to offer various leasing options and comply with local regulations. With our module Assets&Funding, Xerox's treasury department will be able to leverage automation and improve KPIs directly impacting the company's profitability. Entirely built on SAP Business Technology Platform and utilizing SAP Fiori launchpad technology, users will work with a unified user interface across systems." About BearingPoint BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: Consulting, Products, and Capital. Consulting covers the advisory business with a clear focus on selected business areas. Products provides IP-driven digital assets and managed services for business-critical processes. Capital delivers M&A and transaction services. BearingPoint's clients include many of the world's leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success. BearingPoint is a certified B Corporation, meeting high standards of social and environmental impact. For more information, please visit: Homepage: Lease&Rent: LinkedIn: View source version on Contacts Press contact Alexander BockGlobal Senior Manager CommunicationsTelephone: +49 89 540338029Email:
