Sun Life Financial Inc. (NYSE:SLF) Plans Quarterly Dividend of C$0.96

Key Points

• Sun Life Financial declared a quarterly dividend of C$0.96 per share, payable September 29 to shareholders of record on August 26. The dividend represents an annualized yield of approximately 4.7%, and the company has raised its dividend for 11 consecutive years.
• The dividend appears well covered, with a current payout ratio of 49.8% and an expected future payout ratio of 46.2%. Sun Life also reported quarterly EPS of $1.46, beating analysts’ $1.39 consensus estimate.
• Shares fell 1.2% to $81.31, while analysts maintained a broadly positive outlook: the stock carries a “Moderate Buy” consensus rating and a consensus price target of $84.67.

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Wednesday, August 26th will be paid a dividend of 0.96 per share by the financial services provider on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, August 26th.

Sun Life Financial has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 11 years. Sun Life Financial has a dividend payout ratio of 49.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sun Life Financial to earn $6.11 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 46.2%.

Sun Life Financial Stock Down 1.2%

Shares of SLF stock traded down $1.01 on Friday, reaching $81.31. 470,002 shares of the stock were exchanged, compared to its average volume of 674,143. The stock has a market cap of $45.32 billion, a P/E ratio of 20.96 and a beta of 0.88. The firm has a 50 day moving average of $78.68 and a two-hundred day moving average of $70.88. Sun Life Financial has a 1-year low of $56.22 and a 1-year high of $84.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.07. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.The firm had revenue of $10.10 billion for the quarter, compared to analysts' expectations of $994.33 million. On average, equities research analysts predict that Sun Life Financial will post 5.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Argus set a $81.00 target price on shares of Sun Life Financial in a research report on Wednesday, June 10th. TD Securities reaffirmed a "buy" rating on shares of Sun Life Financial in a research report on Friday. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Friday, May 8th. National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Friday, April 24th. Finally, Barclays reaffirmed an "underweight" rating on shares of Sun Life Financial in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.67.

About Sun Life Financial

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.

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