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https://www.adviceforinvestors.com/news/canadian-stocks/4-dividend-paying-technology-stocks-to-buy/
4 dividend-paying technology stocks to buy
Portfolio manager Margaret Samuel of Toronto-based Enriched Investing™ goes “fishing at high tide” for dividend-paying technology stocks.
Technology is a very loved sector. Generally I like to look for unloved stocks in loved sectors to find opportunities. However, the technology tide is lifting the vast majority of boats, so fishing in these waters requires focus.
History has shown that stocks paying dividends, particularly dividends that have been rising, tend to perform well with relatively lower volatility. Although typically technology stocks tend not to be known as dividend payers, there are a few and I will highlight four that would be sound additions to a diversified portfolio.
Open Text Corporation (TSX—OTEX; NASDAQ—OTEX)
In Canada, Open Text Corporation (TSX—OTEX; NASDAQ—OTEX) has been around for a long time. If you remember Nortel and Research in Motion and know that RIM is now Blackberry, you’ve probably seen a few boom-and-bust cycles that broke many tech-lovers’ hearts. In the heady days of Nortel and Research In Motion, Open Text was scoffed at as a shoe salesman’s stock. But it has proven the naysayers wrong and continues to amalgamate and grow to take advantage of prevailing trends.
Today, with the need for remote collaboration, it is well positioned to benefit from a virus-driven demand for the types of products that are core to its business model. For example, for the first time in the last few months, I have had to participate in many business meetings using Microsoft Teams, described as the world’s fastest-growing collaboration tool and an alternative to the popular Zoom.
On July 9, 2020, OTEX announced that its market-leading Content Services technology is available to be integrated with Microsoft Teams. The firm’s Chief Marketing Officer, Lou Blatt, explained that “integrating Enterprise Content Services into Teams makes it easier to access relevant documents while maintaining information governance and compliance policies”. In addition, Open Text leverages Microsoft Azure and integrates with additional Microsoft products.