Sun Life Financial Inc. (SLF) to Issue Quarterly Dividend of C$0.96 on June 30th

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Wednesday, May 27th will be given a dividend of 0.96 per share by the financial services provider on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Wednesday, May 27th. This is a 4.3% increase from Sun Life Financial’s previous quarterly dividend of $0.92.

Sun Life Financial has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Sun Life Financial has a dividend payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sun Life Financial to earn $6.25 per share next year, which means the company should continue to be able to cover its $2.70 annual dividend with an expected future payout ratio of 43.2%.

Sun Life Financial Trading Down 4.9%

Sun Life Financial stock opened at $69.49 on Friday. The stock has a market cap of $38.50 billion, a P/E ratio of 17.91 and a beta of 0.91. The company has a fifty day simple moving average of $66.01 and a 200-day simple moving average of $63.35. Sun Life Financial has a 12-month low of $56.22 and a 12-month high of $74.16.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.78%. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $925.99 million. During the same period in the previous year, the company earned $1.82 EPS. As a group, sell-side analysts forecast that Sun Life Financial will post 5.7 earnings per share for the current fiscal year.

About Sun Life Financial

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.