Xerox slides after dividend cut
ReutersMay 22, 2025 8:54 PM
Office equipment maker Xerox Holdings XRX.O shares fall 9.2% to $4.65 in extended trading
XRX cuts quarterly dividend to $0.025 per share
Co's board approves its dividend policy update in anticipation of the closing of the Lexmark transaction
Xerox also reiterates its 2025 forecast
"Consistent with our previously stated capital allocation priorities to reduce leverage post-closing, we believe reducing our dividend creates greater financial flexibility to deploy cash in the most accretive manner" - CFO Mirlanda Gecaj
As of last close, stock down ~39% this year
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