Accenture’s Q4 Profit Slips 7%, but Still Beats View; Dividend Raised by 20% (ACN)

Consulting and outsourcing firm Accenture plc (ACN) late Thursday posted better-than-expected fiscal fourth quarter earnings, offered an optimistic current-year forecast, and lifted its semi-annual dividend payout by 20%.

The Dublin, Ireland-based company reported fiscal fourth quarter net income of $578 million, or 88 cents per share, compared with $612 million, or 91 cents per share, in the year-ago period.

Revenue rose 2% from last year to $6.84 billion.

On average, Wall Street analysts expected a smaller profit of 88 cents per share, on lower revenue of $675 million.

Looking ahead, ACN forecast 2013 earnings to range from $4.22 to $4.30 per share, while analysts are looking for $4.17 per share for the current fiscal year.

In another announcement, the company’s board of directors approved a 20% raise to its semi-annual dividend payout. The new dividend of 81 cents per share, up from 67.5 cents previously, will be paid on Nov. 15 with an ex-dividend date of Oct. 10.

Accenture shares rose $2.51, or +3.8%, in premarket trading Friday.

The Bottom Line
Shares of Accenture (ACN) will now have a 2.48% dividend yield, based on the higher dividend payout and last night’s closing stock price of $65.38. The stock has technical support in the $61-$62 price area. The shares are trading near all-time highs.

Accenture plc (ACN) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here