Prudential plc (NYSE:PUK) Declares Dividend Increase - $0.28 Per Share

Prudential plc (NYSE:PUK - Get Free Report) announced a Semi-Annual dividend on Friday, March 22nd, NASDAQ reports. Shareholders of record on Tuesday, April 2nd will be paid a dividend of 0.2842 per share by the financial services provider on Thursday, May 16th. The ex-dividend date is Monday, April 1st. This is an increase from Prudential's previous Semi-Annual dividend of $0.24.

Prudential has decreased its dividend by an average of 14.9% per year over the last three years. Prudential has a dividend payout ratio of 12.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Prudential to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 11.4%.

Prudential Price Performance

PUK traded down $0.03 during mid-day trading on Friday, reaching $19.27. 2,328,863 shares of the stock were exchanged, compared to its average volume of 889,539. The company has a 50 day moving average price of $20.52 and a two-hundred day moving average price of $21.42. Prudential has a 1 year low of $18.60 and a 1 year high of $30.91.

Hedge Funds Weigh In On Prudential

Hedge funds have recently bought and sold shares of the company. FinTrust Capital Advisors LLC boosted its holdings in shares of Prudential by 51.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 975 shares of the financial services provider's stock worth $27,000 after buying an additional 332 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Prudential by 53.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,088 shares of the financial services provider's stock worth $30,000 after buying an additional 379 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of Prudential by 23.1% in the 1st quarter. Belpointe Asset Management LLC now owns 2,322 shares of the financial services provider's stock worth $63,000 after buying an additional 436 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Prudential by 10.6% in the 2nd quarter. Captrust Financial Advisors now owns 5,023 shares of the financial services provider's stock worth $126,000 after buying an additional 482 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Prudential by 1.7% in the 1st quarter. State Street Corp now owns 37,929 shares of the financial services provider's stock worth $1,131,000 after buying an additional 647 shares during the last quarter. 1.90% of the stock is owned by hedge funds and other institutional investors.

Prudential Company Profile

Prudential plc, through its subsidiaries, provides life and health insurance, and retirement and asset management solutions to individuals in Asia, and Africa. It offers health and protection, as well as non- participating savings products, such as protection and investment-linked products. The company also provides insurance against common critical illnesses; property and casualty; and tropical disease protection, such as dengue, malaria, and measles.