Evertec, Inc. Announces Quarterly Dividend of $0.05 (NYSE:EVTC)

Key Points

• Evertec declared a quarterly dividend of $0.05 per share (annualized $0.20) payable June 5 to shareholders of record on May 11, with an ex-dividend date of May 11 and a yield of about 0.7%.
• The dividend is well covered, with a payout ratio around 5.6%; analysts forecast roughly $3.4–$3.7 in EPS next year, indicating the $0.20 annual payout is sustainable.
• Evertec beat its latest quarter estimates, reporting $0.93 EPS vs. $0.91 expected and revenue of $244.8M (+13.1% YoY), and the company has a market cap near $1.82 billion.

Evertec, Inc. (NYSE:EVTC - Get Free Report) announced a quarterly dividend on Thursday, April 30th. Stockholders of record on Monday, May 11th will be paid a dividend of 0.05 per share by the business services provider on Friday, June 5th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, May 11th.

Evertec has a dividend payout ratio of 5.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Evertec to earn $3.71 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 5.4%.

Evertec Stock Performance

Shares of EVTC stock opened at $29.53 on Friday. The business's 50-day moving average price is $28.61 and its 200-day moving average price is $28.91. Evertec has a 12 month low of $24.95 and a 12 month high of $38.56. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.13 and a beta of 0.84. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.69.

Evertec (NYSE:EVTC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The business services provider reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.02. Evertec had a return on equity of 33.27% and a net margin of 15.19%.The firm had revenue of $244.83 million for the quarter, compared to analyst estimates of $236.83 million. During the same period last year, the firm posted $0.87 earnings per share. The business's revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts forecast that Evertec will post 3.4 EPS for the current year.

Institutional Investors Weigh In On Evertec

A number of hedge funds have recently added to or reduced their stakes in the business. Equitable Trust Co. increased its holdings in Evertec by 21.3% in the first quarter. Equitable Trust Co. now owns 10,944 shares of the business services provider's stock worth $309,000 after purchasing an additional 1,922 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Evertec in the first quarter worth approximately $570,000. Pictet Asset Management Holding SA increased its holdings in Evertec by 19.7% in the first quarter. Pictet Asset Management Holding SA now owns 10,614 shares of the business services provider's stock worth $300,000 after purchasing an additional 1,744 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Evertec in the first quarter worth approximately $801,000. Finally, Blue Trust Inc. increased its holdings in Evertec by 109.5% in the first quarter. Blue Trust Inc. now owns 2,007 shares of the business services provider's stock worth $57,000 after purchasing an additional 1,049 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.

About Evertec

Evertec, Inc NYSE: EVTC is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec's suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.