Keep an eye on Xerox (XRX).
Just the other day, the company cut its quarterly dividend for the second time in six months.
The company “announced that its Board of Directors approved an update to its dividend policy in anticipation of the closing of the Lexmark transaction, reducing the quarterly dividend to $0.025 per share. Accordingly, Xerox announced the declaration of a quarterly dividend of $0.025 per share on Xerox Holdings Corporation Common Stock. The dividend is payable on July 31, 2025, to shareholders of record on June 30, 2025.”
“In December 2024, Xerox announced a reduction to its dividend in conjunction with the planned acquisition of Lexmark, reflecting the prioritization of debt repayment following acquisition close.”
Since that cut, insiders have been buying.
In fact, as noted by Barron’s, “President and Chief Operating Officer John G. Bruno, Chairman Scott Letier, CEO Steve Bandrowczak, and Chief Financial Officer Mirlanda Gecaj bought Xerox stock on the open market. It was the first time buying stock on the open market for all but Letier, who purchased shares for the first time in nearly four years.”
Bruno paid $109,500 for 25,000 Xerox shares, an average price of $4.38 each. Letier paid $110,750 for 25,000 Xerox shares, at an average price of $4.43 each. Bandrowczak paid $99,904 for 22,300 Xerox shares, an average price of $4.48 each. Gecaj paid $44,100 for 10,000 Xerox shares, an average price of $4.41 each. She now owns 15,956 shares.
Sincerely,
Ian Cooper
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