SAIC Board of Directors Declares Cash Dividend
Science Applications International Corp. (SAIC) declared a cash dividend of $0.37 per share of common stock, payable on April 26, 2024, to stockholders of record on April 12, 2024. SAIC plans to continue quarterly dividends, subject to board approval and financial factors.
The declaration of a cash dividend of $0.37 per share by Science Applications International Corp. (SAIC) is a direct reflection of the company's current financial health and its ability to generate positive cash flow. Dividends are typically a sign of a company's confidence in its ongoing profitability and often attract income-focused investors. The commitment to quarterly dividends can be seen as a signal to the market of SAIC's stable earnings and reliable financial standing.
However, it's important to consider the dividend yield and payout ratio in relation to the company's overall financial performance. A high payout ratio could indicate that the company is returning most of its earnings to shareholders, which might limit the amount of capital available for future growth opportunities. Conversely, a modest payout ratio could suggest a balanced approach, supporting both shareholder returns and investment in strategic initiatives.
SAIC's announcement may have implications for investor sentiment and stock market performance. Dividends are often factored into the total return of a stock and as such, they can make a company more attractive to certain segments of the market. Additionally, the consistency of dividend payments can contribute to the perception of SAIC as a potentially lower-risk investment.
It's also essential to assess the competitive landscape and how SAIC's dividend policy compares with peers in the industry. If SAIC's dividend yield is competitive, it could draw more attention from dividend investors. However, if competitors offer higher yields or if the industry is moving towards reinvestment rather than cash payouts, SAIC's stock might not benefit as much from the dividend declaration.
03/15/2024 - 09:20 AM
RESTON, Va. --(BUSINESS WIRE)--
Science Applications International Corp. (Nasdaq: SAIC ) announced today that the company’s board of directors declared a cash dividend of $0.37
SAIC intends to continue paying dividends on a quarterly basis, although the declaration of any future dividends will be determined by the board of directors each quarter and will depend on earnings, financial condition, capital requirements and other factors.
About SAIC
SAIC® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers' missions.
We are approximately 24,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia , SAIC has annual revenues of approximately $6.9 billion saic.com . For ongoing news, please visit our newsroom .
Forward-Looking Statements
Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov . Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations.
SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240314888340/en/
Thais Hanson
publicrelations@saic.com
Source: Science Applications International Corp.
What dividend did SAIC declare per share of common stock?
SAIC declared a cash dividend of $0.37 per share of common stock.
When will the dividend be payable to stockholders of record?
The dividend will be payable on April 26, 2024, to stockholders of record on April 12, 2024.
How often does SAIC plan to pay dividends?
SAIC intends to continue paying dividends on a quarterly basis, subject to board approval and financial factors.
