- In spite of pandemic-related office-closures, Xerox still managed positive FCF in Q2 and expects positive FCF through the end of the year.
- With at least $300M of share repurchases planned before the end of FY '20, management remains committed to shareholder returns including the dividend whose yield presently hovers around 5%.
- The company’s post-sale business model offers operating characteristics that provide protection for the dividend, even in light of current circumstances.
- With Carl Icahn “doubling-down” on his Xerox bet recently, income investors, skittish to invest in this old “legacy” name, may wish to take a second look.
For further details see:
What Beats At The Heart Of Xerox Protects The Dividend