Qifu Technology, Inc. (NASDAQ:QFIN) Raises Dividend to $0.60 Per Share

Qifu Technology, Inc. (NASDAQ:QFIN) declared a semi-annual dividend on Tuesday, August 20th, Wall Street Journal reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.60 per share on Friday, November 1st. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.57.

Qifu Technology has a dividend payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Qifu Technology to earn $4.58 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 26.2%.

Qifu Technology Trading Up 2.0 %

QFIN traded up $0.50 on Tuesday, hitting $24.98. 2,591,725 shares of the company’s stock traded hands, compared to its average volume of 1,159,434. The company’s 50 day simple moving average is $20.15 and its 200-day simple moving average is $18.81. Qifu Technology has a one year low of $13.68 and a one year high of $25.00. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 6.45, a P/E/G ratio of 0.53 and a beta of 0.61.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings data on Sunday, May 19th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. Qifu Technology had a net margin of 28.06% and a return on equity of 21.99%. The firm had revenue of $575.21 million for the quarter, compared to analysts’ expectations of $590.38 million. As a group, equities analysts anticipate that Qifu Technology will post 4.1 EPS for the current fiscal year.

About Qifu Technology

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.