LONDON, UK / ACCESSWIRE / September 18, 2017 / Pro-Trader Daily takes a closer look at Seagate Technology PLC (NASDAQ: STX) ("Seagate") as the Company's stock will begin trading ex-dividend on September 19, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on September 18, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On July 24, 2017, Seagate's Board of Directors (the "Board") has approved a quarterly cash dividend of $0.63 per share, which will be payable on October 04, 2017, to shareholders of record as of the close of business on September 20, 2017.

Seagate's indicated dividend represents a yield of 7.72%, which is more than four times compared to the average dividend yield of 1.40% for the Technology sector. The Company has raised its dividend for six consecutive years.

Dividend Insights

Seagate has a dividend payout ratio of 65.8%, which reflects that it distributes approximately $0.66 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts' estimates, Seagate is projected to report earnings of $3.88 per share in the coming year, which means that the Company should be able to comfortably cover its annualized dividend of $2.52.

For its fourth quarter ending on June 30, 2017, the Company generated $243 million in cash flow from operations and returned approximately $400 million to shareholders in the form of dividends and share repurchases. Seagate's balance sheet remains healthy, and during the fiscal year, the Company successfully raised $1.25 billion in investment-grade debt and repurchased and redeemed approximately $316 million of outstanding debt. Cash and cash equivalents totaled approximately $2.5 billion at the end of FY17. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.

Recent Development for Seagate

On August 08, 2017, Seagate announced enhanced versions of two flash technologies to boost performance and capacity for mixed data center workloads. The updated solid-state drives ? including the Nytro® 5000 M.2 non-volatile memory express (NVMe) SSD and the Nytro 3000 Serial Attached SCSI (SAS) SSD ? address different segments of the cloud and data center markets.

Seagate stated that the Nytro 5000 NVMe M.2 SSD is a cost-effective, lower-power technology ideal for the demands of today's data center environments with 2TB of industry-leading capacity. It also boosts random write performance levels as high as 67,000 input/output operations per second (IOPS) ? double the performance levels of the previous version. The SSD's new features match the growing needs of demanding enterprise applications like data mining, weather modeling, and online transaction processing. The SSD also comes with configurable over provisioning, providing additional layers of flexibility.

About Seagate Technology PLC

Seagate provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The Company manufactures and distributes hard disk drives, solid-state drives and their related controllers, solid state hybrid drives, and storage subsystems. Seagate sells its products primarily to original equipment manufacturers, distributors, and retailers. Seagate was founded in 1979 and is headquartered in Dublin, Ireland.

Stock Performance

On Friday, September 15, 2017, the stock closed the trading session at $33.55, climbing 2.76% from its previous closing price of $32.65. A total volume of 9.56 million shares have exchanged hands, which was higher than the 3-month average volume of 5.43 million shares. Seagate Technology's stock price advanced 3.29% in the last one month. The stock is trading at a PE ratio of 13.01 and has a dividend yield of 7.51%. The stock currently has a market cap of $9.83 billion.

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