Simulations Plus, Inc. (NASDAQ:SLP) declared a quarterly dividend on Tuesday, October 23rd, Wall Street Journal reports. Stockholders of record on Thursday, November 1st will be paid a dividend of 0.06 per share by the technology company on Thursday, November 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Wednesday, October 31st.
Simulations Plus has increased its dividend payment by an average of 1.6% annually over the last three years. Simulations Plus has a payout ratio of 60.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Simulations Plus to earn $0.52 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 46.2%.
Shares of NASDAQ SLP opened at $20.11 on Tuesday. The company has a market cap of $351.30 million, a PE ratio of 59.15 and a beta of -0.80. Simulations Plus has a 12-month low of $14.25 and a 12-month high of $23.95.
In other news, Chairman Walter S. Woltosz sold 18,500 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $20.33, for a total transaction of $376,105.00. Following the completion of the transaction, the chairman now directly owns 5,436,408 shares in the company, valued at $110,522,174.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 33.45% of the company’s stock.
About Simulations Plus
Simulations Plus, Inc develops drug discovery and development software for mechanistic modeling and simulation worldwide. The company offers GastroPlus, which simulates the absorption, pharmacokinetics (PK), and pharmacodynamics of drugs administered to humans and animals; DDDPlus that simulates in vitro laboratory experiments, which measure the rate of dissolution of the drug and additives in a dosage form; and MembranePlus, which simulates laboratory experiments.
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