Science Applications International Corporation (NYSE:SAIC) declared a quarterly dividend on Tuesday, June 13th, Wall Street Journal reports. Stockholders of record on Friday, July 14th will be paid a dividend of 0.31 per share by the information technology services provider on Friday, July 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, July 12th.

Science Applications International Corporation has increased its dividend by an average of 64.2% annually over the last three years. Science Applications International Corporation has a dividend payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Science Applications International Corporation to earn $4.13 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 30.0%.

Science Applications International Corporation (NYSE:SAIC) last released its quarterly earnings data on Monday, June 12th. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Science Applications International Corporation had a return on equity of 42.81% and a net margin of 3.33%. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share.

Dividend History for Science Applications International Corporation (NYSE:SAIC)

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Several research firms have recently commented on SAIC. Seaport Global Securities began coverage on Science Applications International Corporation in a research report on Thursday, February 16th. They issued a “buy” rating and a $93.00 target price on the stock. Vertical Research began coverage on Science Applications International Corporation in a research report on Thursday, March 16th. They issued a “hold” rating and a $91.00 target price on the stock. Cowen and Company reaffirmed a “market perform” rating and issued a $82.00 target price (down previously from $90.00) on shares of Science Applications International Corporation in a research report on Sunday, April 2nd. Citigroup Inc. decreased their target price on Science Applications International Corporation from $86.00 to $83.00 and set a “neutral” rating on the stock in a research report on Monday, April 3rd. Finally, Zacks Investment Research downgraded Science Applications International Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.38.

In related news, insider Nazzic S. Keene sold 8,580 shares of the stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $72.45, for a total transaction of $621,621.00. Following the sale, the insider now owns 34,826 shares of the company’s stock, valued at $2,523,143.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.28% of the stock is currently owned by corporate insiders.

Science Applications International Corporation Company Profile

Science Applications International Corporation (SAIC) is a provider of technical, engineering and enterprise information technology (IT) services. The Company provides its services primarily to the United States Government, including the Department of Defense (DoD), the intelligence community and federal civilian agencies.

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