BRITISH COLUMBIA

Absolute Software to raise payout to shareholders with higher dividend payment

10/22/2013 07:47 EDT | Updated 12/22/2013 05:12 EST
VANCOUVER - Absolute Software Corp. (TSX:ABT) is raising its quarterly dividend to six cents per share, a 20 per cent increase, starting with the next payout to shareholders in November.

The company provides software for tracking and managing computers, laptops, tablets and smartphones.

"This dividend increase reflects Absolute's ability to generate significant and sustainable cash flow, as well as the board's confidence in the future growth and earnings potential of the business," Absolute CEO John Livingston said Tuesday.

Based on its recent stock price, the dividend would have an annualized yield of about 3.2 per cent. Absolute's stock closed Monday at $7.49.

The dividend will be paid on Nov. 28 to shareholders of record as of Nov. 7. The previous dividend was five cents per share.