Sun Life Financial Inc. (NYSE:SLF) Increases Dividend to $0.62 Per Share

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) declared a quarterly dividend on Monday, November 4th, Zacks reports. Investors of record on Wednesday, November 27th will be given a dividend of 0.621 per share by the financial services provider on Tuesday, December 31st. This represents a $2.48 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59.

Sun Life Financial has raised its dividend payment by an average of 10.5% annually over the last three years. Sun Life Financial has a payout ratio of 45.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sun Life Financial to earn $5.35 per share next year, which means the company should continue to be able to cover its $2.41 annual dividend with an expected future payout ratio of 45.0%.

Sun Life Financial Trading Up 0.8 %

Shares of NYSE:SLF traded up $0.44 during midday trading on Wednesday, hitting $58.21. The stock had a trading volume of 142,658 shares, compared to its average volume of 652,060. Sun Life Financial has a 1 year low of $46.41 and a 1 year high of $58.51. The stock has a 50 day moving average price of $56.52 and a two-hundred day moving average price of $52.44. The company has a market capitalization of $36.68 billion, a PE ratio of 12.89, a P/E/G ratio of 1.43 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion. Sun Life Financial had a return on equity of 17.68% and a net margin of 7.32%. As a group, equities analysts expect that Sun Life Financial will post 4.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Barclays initiated coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.