Prudential plc (NYSE:PUK) Plans Dividend Increase – $0.33 Per Share

Prudential plc (NYSE:PUK) declared a dividend on Thursday, March 20th, NASDAQ Dividends reports. Shareholders of record on Friday, March 28th will be given a dividend of 0.3258 per share by the financial services provider on Wednesday, May 14th. The ex-dividend date is Friday, March 28th. This is a 37.4% increase from Prudential’s previous dividend of $0.24.

Prudential has raised its dividend payment by an average of 9.4% annually over the last three years. Prudential has a payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Prudential to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.27 annual dividend with an expected future payout ratio of 13.5%.

Prudential Price Performance

PUK traded down $0.04 during trading on Friday, reaching $20.68. 1,204,017 shares of the company’s stock were exchanged, compared to its average volume of 1,018,251. Prudential has a 1 year low of $14.39 and a 1 year high of $21.10. The stock has a market capitalization of $27.20 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 0.41 and a beta of 1.21. The company’s fifty day simple moving average is $17.61 and its 200-day simple moving average is $17.02.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Prudential from a “hold” rating to a “sell” rating in a research report on Friday, March 14th.

About Prudential

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.