Voya Financial, Inc. (NYSE:VOYA) Plans Quarterly Dividend of $0.57

Key Points

• Voya Financial raised its quarterly dividend 21.3% to $0.57 per share, payable December 29 to shareholders of record November 24. The annualized dividend is $2.28, representing a 2.3% yield.
• The dividend appears well covered, with a current payout ratio of 19.2%; analysts expect a future payout ratio of 16.6% based on projected earnings.
• Voya’s latest quarterly earnings came in at $1.51 per share, below the $1.98 consensus estimate, while revenue declined 4.3% year over year to $1.88 billion.

Voya Financial, Inc. (NYSE:VOYA - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Tuesday, November 24th will be given a dividend of $0.57 per share by the asset manager on Tuesday, December 29th. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, November 24th. This is a 21.3% increase from Voya Financial's previous quarterly dividend of $0.47.

Voya Financial has raised its dividend payment by an average of 0.2% annually over the last three years and has raised its dividend every year for the last 6 years. Voya Financial has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Voya Financial to earn $11.34 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 16.6%.

Voya Financial Price Performance

Voya Financial stock opened at $98.42 on Friday. The company's 50 day simple moving average is $98.51 and its 200-day simple moving average is $86.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 0.27. Voya Financial has a 1 year low of $64.50 and a 1 year high of $105.64. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.90.

Voya Financial (NYSE:VOYA - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The asset manager reported $1.51 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.47). The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.90 billion. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The company's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 earnings per share. As a group, equities research analysts expect that Voya Financial will post 9.17 earnings per share for the current year.

About Voya Financial

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya's retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.

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