Convergys Corp (NYSE:CVG) announced a quarterly dividend on Tuesday, November 7th, Zacks reports. Investors of record on Friday, December 22nd will be given a dividend of 0.10 per share by the business services provider on Friday, January 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Thursday, December 21st.

Convergys has increased its dividend by an average of 13.9% annually over the last three years and has raised its dividend every year for the last 4 years. Convergys has a payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Convergys to earn $1.84 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 21.7%.

Convergys (CVG) traded up $0.13 during midday trading on Friday, hitting $23.77. 2,356,813 shares of the company were exchanged, compared to its average volume of 747,249. Convergys has a twelve month low of $20.15 and a twelve month high of $26.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.60 and a quick ratio of 2.60. The company has a market cap of $2,184.62, a P/E ratio of 12.64, a P/E/G ratio of 1.42 and a beta of 1.07.

Convergys (NYSE:CVG) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). Convergys had a net margin of 4.54% and a return on equity of 13.92%. The firm had revenue of $688.30 million for the quarter, compared to analyst estimates of $692.34 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. analysts forecast that Convergys will post 1.85 EPS for the current year.

A number of equities research analysts have recently issued reports on CVG shares. SunTrust Banks restated a “hold” rating and set a $26.00 price target on shares of Convergys in a report on Monday, October 9th. Robert W. Baird restated a “hold” rating and set a $28.00 price target on shares of Convergys in a report on Tuesday, October 24th. Zacks Investment Research lowered shares of Convergys from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Citigroup cut their price target on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Finally, Barrington Research started coverage on shares of Convergys in a report on Tuesday, October 17th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $26.00.

In related news, Director Jeffrey H. Fox sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $23.77, for a total transaction of $594,250.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrea J. Ayers sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $24.15, for a total transaction of $724,500.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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About Convergys

Convergys Corporation is engaged in customer experience outsourcing. The Company’s geographical segments include North America and Rest of World. The Company offers services across industries, including communications and media, technology, financial services, retail, government and healthcare. The Company helps businesses to create customer experiences across multiple interaction channels, such as voice, chat, e-mail and interactive voice response.

Dividend History for Convergys (NYSE:CVG)

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