FirstService Corporation Announces Quarterly Dividend of $0.28 (NASDAQ:FSV)

Key Points

• FirstService Corporation announced a quarterly dividend of $0.28, with stockholders set to receive the payment on October 7th.
• The company reported a net margin of 2.61% and earnings per share (EPS) of $1.71, exceeding analysts' expectations during its latest earnings release.
• FirstService's dividend payout ratio is currently at 17.7%, indicating that future dividends are well-supported by earnings projections.

FirstService Corporation (NASDAQ:FSV - Get Free Report) TSE: FSV announced a quarterly dividend on Wednesday, September 10th, Wall Street Journal reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.275 per share by the financial services provider on Tuesday, October 7th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 30th.

FirstService has a dividend payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect FirstService to earn $5.91 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 18.6%.

FirstService Trading Down 0.4%

Shares of NASDAQ FSV traded down $0.86 during trading on Wednesday, hitting $205.03. 55,251 shares of the company traded hands, compared to its average volume of 133,502. FirstService has a 1 year low of $153.13 and a 1 year high of $206.51. The company has a 50-day moving average price of $192.21 and a 200-day moving average price of $179.24. The firm has a market capitalization of $9.34 billion, a P/E ratio of 65.74 and a beta of 0.96. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the company earned $1.36 EPS. The business's quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts predict that FirstService will post 5.27 EPS for the current year.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.

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