Boston, MA 05/28/2014 (wallstreetpr) – A provider of business process services, Xerox Corp (NYSE:XRX) announced details of growth strategy to the shareholders during the annual meeting. The company has also announced a quarterly cash dividend.
Areas of Growth Strategy
The company’s chairman and CEO Ursula Burns addressed the shareholders in its annual meeting and highlighted its strong financial position, the gains of its services-led, technology-oriented portfolio and the way it is combining its resources with investments for profitable growth.
The CEO also reiterated its four tactical priorities; revenue growth in its key segment, services, profit in tune with the industry, strengthening its portfolio and innovation besides lending its support to its employees, as well as customers. The services division assumes significance for Xerox since it contributes about 57% of the total revenue to the company and also predicted to witness an uptick of two-thirds by 2017.
As one of the main players in the industry, the company has attached utmost priority to earn profit in tune with the industry by both operational excellence as well as disciplined business approach. The company wants to consolidate its strengths and differentiate its portfolio through concentrating on areas where it has enough expertise, be it big or small scale and innovation, which allows them to think big. The fourth priority is lending support to its employees and customers as they are interlinked for any growth prospects.
The shareholders elected 10 members of the company’s board of directors by a majority vote during the annual meeting. The selection of PricewaterhouseCoopers LLP was also ratified by the shareholders.
Repurchase of Stocks & Dividend
Xerox Corp (NYSE:XRX) has bought back shares worth $700 million and paid close to $300 million in dividends by hiking dividend by 35%.
Recently, the company’s board has declared a quarterly dividend of 6.25 cents a share in cash. The record date is fixed for June 30, and the dividend is payable on July 31.