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Recurring Revenue: Article

Oracle to Pay Its First Dividend

It’s going to pay five cents a share starting in May

In a completely uncharacteristic and counter-culture move - the recession has slashed a lot of dividends - Oracle is going to pay out its very first dividend. It's going to pay five cents a share starting in May at the cost of about a billion a year.

No, it's not coming out of Larry's boat money or his fighter jet fund; Oracle has $8.2 billion sitting in the bank along with debt from its perpetual buying spree.

Presumably Oracle's saying it's relatively recession-proof and undervalued since its shares recently hit a 52-week low.

It announced the dividend when it posted its better-than-expected fiscal Q3 results and showed a 1% drop in earnings to $1.33 billion on revenues up 1.9% to $5.45 billion. New license revenues were down 6% to $1.5 billion but up 3% in constant currency; software revenues in general were up 5% to $4.4 billion. Maintenance revenues were up 11%.

Oracle complained about the stronger dollar; it makes half its money overseas and its numbers were whacked.

This quarter it's expecting revenues will be down 10%-14% compared to last year, say to $6.23 billion-$6.52 billion, and new licenses down 17%-27%. Wall Street was thinking $7 billion. Fiscal Q4 has historically been robust for Oracle.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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