StepStone Group Inc. (NASDAQ:STEP) Plans Dividend Increase - $0.33 Per Share

Key Points

• StepStone Group plans to raise its quarterly dividend to $0.33 per share, up 17.9% from $0.28, with payment scheduled for September 15 to shareholders of record on August 31. The annualized dividend yield is approximately 2.8%.
• The dividend appears financially supported, with a current payout ratio of 48.1% and an expected future payout ratio of 32.1% based on projected next-year earnings.
• StepStone shares fell 5.7% to $47.48 after the company reported quarterly EPS of $0.48, missing estimates by $0.02, while revenue of $300.6 million also came in below consensus.

StepStone Group Inc. (NASDAQ:STEP - Get Free Report) announced a quarterly dividend on Thursday, August 6th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.33 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, August 31st. This is a 17.9% increase from StepStone Group's previous quarterly dividend of $0.28.

StepStone Group has increased its dividend payment by an average of 0.8%per year over the last three years and has increased its dividend every year for the last 3 years. StepStone Group has a payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect StepStone Group to earn $3.49 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 32.1%.

StepStone Group Trading Down 5.7%

NASDAQ STEP traded down $2.85 during trading on Friday, hitting $47.48. The company had a trading volume of 3,350,565 shares, compared to its average volume of 1,278,079. The company's fifty day moving average is $43.98 and its 200-day moving average is $50.39. StepStone Group has a one year low of $38.85 and a one year high of $77.79. The company has a market cap of $5.67 billion, a price-to-earnings ratio of -6.97 and a beta of 1.27.

StepStone Group (NASDAQ:STEP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). StepStone Group had a negative net margin of 26.88% and a positive return on equity of 37.69%. The business had revenue of $300.60 million for the quarter, compared to the consensus estimate of $309.32 million. As a group, equities analysts anticipate that StepStone Group will post 2.54 EPS for the current year.

StepStone Group Company Profile

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone's integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.

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