Raymond James Financial, Inc. (NYSE:RJF) to Issue Quarterly Dividend of $0.54

Key Points

• Raymond James Financial will pay a quarterly dividend of $0.54 per share on October 15 to shareholders of record as of October 1, representing a 1.2% yield.
• The company has raised its dividend for three consecutive years, with a low 19.5% payout ratio; analysts expect future earnings to comfortably cover the annualized $2.16 dividend.
• Raymond James reported quarterly EPS of $3.14, beating estimates by $0.23, while revenue rose 15.6% year over year to $3.93 billion.

Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) announced a quarterly dividend on Wednesday, August 26th. Stockholders of record on Thursday, October 1st will be given a dividend of 0.54 per share by the financial services provider on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 1st.

Raymond James Financial has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Raymond James Financial has a payout ratio of 19.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Raymond James Financial to earn $12.72 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 17.0%.

Raymond James Financial Stock Performance

Shares of RJF opened at $176.85 on Thursday. The company's 50 day simple moving average is $169.39 and its 200-day simple moving average is $157.93. The firm has a market cap of $34.02 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. Raymond James Financial has a 12-month low of $138.82 and a 12-month high of $182.73. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. Raymond James Financial's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.18 EPS. As a group, equities analysts predict that Raymond James Financial will post 12.07 EPS for the current year.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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