ServiceNow (NOW) has offered life-changing returns since its IPO in 2012. During this period, the stock has rallied more than 30-fold, from $18 to $550. The impressive rally of the stock has resulted from the exceptional business performance of the company and its exciting growth prospects.

Income investors have probably missed the breathtaking rally of ServiceNow, as the company does not pay a dividend. The absence of a dividend is fairly common among technology stocks, particularly in the early phases of their growth history.

While ServiceNow has yet to pay a dividend, the 30 Dividend Kings have all increased their dividends for 50+ consecutive years.  You download the Dividend Kings spreadsheet by clicking on the link below.

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Income-oriented investors who are attracted by the impressive return potential of ServiceNow may wonder whether the company will pay a dividend anytime soon.

Business Overview

ServiceNow is a high-quality technology company, which transforms old, manual ways of working into modern digital workflows. It  reduces the complexity of jobs and makes work more pleasant to employees which results in increased productivity.

ServiceNow currently has more than 6,200 enterprise customers, which include about 80% of the Fortune 500. All these customers use the Now Platform, which is an intelligent cloud platform that carries out their digital transformation.

Source: Investor Presentation

ServiceNow is a leader in the digital transformation of companies towards making work better for their employees. According to a research of IDC, more than $3 trillion has been invested in digital transformation initiatives but only 26% of the investments have delivered acceptable returns.

ServiceNow is a great choice for companies that seek digital transformation. The great results of its digital platform are clearly reflected in the exceptionally high renewal rates of its customers.

Source: Investor Presentation

Such high renewal rates confirm that the customers of ServiceNow experience great improvement in their productivity.

To provide a perspective of the power of the workflow platform of ServiceNow, the NBA and WNBA leagues were able to restart in time thanks to the workflows of ServiceNow. The company helped the league process more than 13,000 documents successfully in less than a week and thus prevented an extended delay.