Truist Financial Corporation (NYSE:TFC) Announces Quarterly Dividend of $0.52

Key Points

• Truist Financial declared a quarterly dividend of $0.52 per share, payable September 1 to shareholders of record on August 14. The dividend represents an annualized yield of approximately 3.9%.
• The dividend appears well covered, with a current payout ratio of 46.5%; analysts expect a future payout ratio of 41.8% based on projected earnings.
• Truist reported quarterly EPS of $1.23, beating estimates of $1.08, while revenue rose 5.6% year over year to $5.31 billion.

Truist Financial Corporation (NYSE:TFC - Get Free Report) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, August 14th will be paid a dividend of 0.52 per share by the insurance provider on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, August 14th.

Truist Financial has increased its dividend by an average of 0.0%annually over the last three years. Truist Financial has a dividend payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Truist Financial to earn $4.98 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 41.8%.

Truist Financial Price Performance

TFC stock opened at $53.02 on Wednesday. The business has a fifty day moving average of $50.04 and a two-hundred day moving average of $49.58. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. The stock has a market cap of $66.06 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. Truist Financial has a 52-week low of $40.78 and a 52-week high of $56.19.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. As a group, research analysts anticipate that Truist Financial will post 4.59 earnings per share for the current year.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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