Micro Focus To Return £83m To Shareholders

Micro Focus (LSE: MCRO) announced the return of £83 million, or 50p per share, to shareholders in this morning's interim management statement. Additionally, the company reported revenue and profitability was in line with expectations as the company continues reshaping its operating model.

Despite a tough comparison quarter last year due to a large one-time contract, Micro Focus's management maintains its guidance for revenue this year to be relatively flat (+1% to -3%) from last year after backing out currency movements. Earnings before interest, taxes and depreciation and amortisation (EBITDA) margin guidance was also maintained at 37%-42%.