Bentley Systems, Incorporated Declares First Quarter 2023 Dividend

Rhea-AI Summary

Bentley Systems (Nasdaq: BSY) has announced a $0.05 per share dividend for Q1 2023, up by two cents from the previous dividend. The payment will be made on March 7, 2023 to shareholders on record by February 21, 2023. CFO Werner Andre highlighted that this increase demonstrates the company's strong cash flow and commitment to balanced capital allocation, which includes acquisitions and stock repurchases. Bentley Systems operates in the infrastructure engineering software sector, generating approximately $1 billion annually and employing over 4,500 people globally.

Positive

• Increase in quarterly dividend to $0.05, indicating strong cash flow generation.
• Commitment to balanced capital allocation including dividends and stock repurchase mitigates dilution risks.

Negative

• Future dividend payments are subject to financial conditions and macroeconomic factors, introducing uncertainty.

EXTON, Pa.--(BUSINESS WIRE)--

Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that its Board of Directors increased by two cents the regular quarterly dividend effective from the first quarter of 2023 and declared a $0.05 per share dividend for the first quarter of 2023. The cash dividend is payable on March 7, 2023 to all stockholders of record of Class A and Class B common stock as of the close of business on February 21, 2023.

CFO Werner Andre said, “Our increased dividend reflects our strong cash flow generation and commitment to broadly balanced capital allocation between acquisitions, dividends, repurchase of stock and convertible debt to offset dilution from stock-based compensation, and deleveraging.”

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About Bentley Systems

Bentley Systems (Nasdaq: BSY) is the infrastructure engineering software company. We provide innovative software to advance the world’s infrastructure – sustaining both the global economy and environment. Our industry-leading software solutions are used by professionals, and organizations of every size, for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, Seequent’s leading geoprofessional software portfolio, and the iTwin Platform for infrastructure digital twins. Bentley Systems employs more than 4,500 colleagues and generates annual revenues of approximately $1 billion in 186 countries.
www.bentley.com

This press release contains statements that are not historical in nature and that are intended to be, and are hereby identified as, “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995, including a statement regarding expectations as to payment of a quarterly cash dividend in the foreseeable future. Any future determination as to payment of dividends will depend upon the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors. For example, macroeconomic conditions, pandemic consequences, a change in business needs including working capital, or a change in income tax law relating to dividends, could cause the company to decide not to pay a dividend in the future. A discussion of other risks and uncertainties is included in the company’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2022, and subsequent filings.

© 2023 Bentley Systems, Incorporated. Bentley, the Bentley logo, AssetWise, iTwin, MicroStation, ProjectWise, and Seequent are either registered or unregistered trademarks or service marks of Bentley Systems, Incorporated or one of its direct or indirect wholly owned subsidiaries. All other brands and product names are trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005749/en/

BSY Investor Contact:

Eric Boyer

Investor Relations Officer

eric.boyer@bentley.com

Source: Bentley Systems, Incorporated

FAQ

What is the new dividend amount for Bentley Systems (BSY) in Q1 2023?

Bentley Systems has declared a dividend of $0.05 per share for Q1 2023.

When will Bentley Systems pay its Q1 2023 dividend?

The dividend will be payable on March 7, 2023.

What is the record date for Bentley Systems' dividend payment?

The record date for the dividend payment is February 21, 2023.

What factors could affect Bentley Systems' future dividend payments?

Future dividend payments may depend on the company's financial health, macroeconomic conditions, and other relevant factors.