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Summary
- Tech companies have been among some of the biggest gainers since the onset of the pandemic.
- An investor seeking passive income but still wanting to be exposed to tech stocks can consider investing in high dividend yielding tech stocks.
- Hostelworld Group, Micro Focus International PLC, Vianet Group PLC, Kin and Carta PLC and Moneysupermarket.com are among the highest yielding tech stocks.
Technology companies have emerged as one of the sectors which outperformed other sectors during the pandemic, as businesses have increasingly adopted digitisation and other technological innovation to ride this resulting economic uncertainty.
The London Stock Exchange’s IPO listings have risen in the last year and have mostly comprised of technology companies since the onset of the covid-19 crisis.
For investors who are seeking to have a steady passive income stream while also having exposure to technology stocks, investing in high dividend yielding tech shares may be the appropriate investment strategy.
Here we take a closer look at the highest dividend yielding FTSE listed stocks in the technology sector:
- Hostelworld Group PLC (LON:HSW)
FTSE All-Share index listed company Hostelworld Group is an online booking platform for hostels. The company recently announced its preliminary results for FY 2020, reporting its net revenue dropped by 81 per cent to EUR 15.4 million compared to EU 80.7 million in FY 2019 due to covid-related headwinds.
Hostelworld’s market capitalisation stands at £115.97 million as of 22 July 2021. Its five-year average dividend yield is 5.6 per cent, which is among the highest for FTSE listed tech stocks. Also, the company’s current dividend yield is 3.7 per cent.
Also Read: Top 10 FTSE Dividend stocks
- Micro Focus International PLC (LON: MCRO)
FTSE 250 listed company Micro Focus International is a UK based global software and IT business. The company announced paying US$ 67.5 million to tech firm Wapp Tech in a cash settlement for a patent dispute.
Micro Focus’ market capitalisation stands at £1.343 billion as of 22 July 2021, and its five-year average dividend yield is 4.5 per cent. Also, the company’s current dividend yield is 2.4 per cent.
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- Vianet Group PLC (LON:VNET)
Vianet Group is a real-time monitoring systems and data management services firm. It is also part of the FTSE AIM All-Share index.
The group in its FY 2021 results, reported that its revenue dropped by 48 per cent to £8.37 million from £16.28 million in FY 2020 due to COVID-19. However, its recurring revenues stayed strong at 89 per cent, marginally lower than the 92 per cent reported in FY 2020.
Vianet’s market capitalisation stands at £30.55 million as of 22 July 2021, and its five-year average dividend yield is 4.4 per cent.
Also Read: 10 lesser-known FTSE dividend champions
- Kin and Carta PLC (LON: KCT)
Kin and Carta is a global digital transformation company and is part of the FTSE All-Share index.
The company recently announced in a trading update that it expects net revenue growth of 10 per cent to about £150 million for FY 2021 and profit before tax to jump between 35 per cent and 40 per cent to about £14.5 million ahead of market expectation, due to growth and rising demand.
Kin and Carta’s market capitalisation stands at £419.00 million as of 22 July 2021, and its five-year average dividend yield is 3.9 per cent.
- Com Group PLC (LON: MONY)
FTSE 250 listed company Moneysupermarket.com is UK-based price comparison website focused on financial services. The company recently announced merger plans, aiming to merge its TravelSupermarket business division with holiday price comparison website Icelolly to create a standalone holiday comparison firm.
Moneysupermarket will own about 62 per cent of the new combined entity, and the transaction is structured as a cash-free exchange between the two businesses.
Moneysupermarket.com’s market capitalisation stands at £1.40 billion as of 22 July 2021, and its five-year average dividend yield is 3.4 per cent. Also, the company’s current dividend yield stands at 4.3 per cent.
