Voya Financial, Inc. (NYSE:VOYA) Announces $0.47 Quarterly Dividend

Key Points

• Voya Financial declared a quarterly dividend of $0.47 per share, payable September 28 to shareholders of record on August 26. The dividend is equivalent to $1.88 annually and yields approximately 1.9%.
• Voya has increased its dividend for six consecutive years, with a payout ratio of 19.2%, indicating the dividend is well covered by earnings.
• The company reported quarterly earnings of $2.26 per share, exceeding analysts’ $2.02 estimate, while revenue rose 3.1% year over year to $1.93 billion.

Voya Financial, Inc. (NYSE:VOYA - Get Free Report) declared a quarterly dividend on Thursday, July 30th. Shareholders of record on Wednesday, August 26th will be paid a dividend of 0.47 per share by the asset manager on Monday, September 28th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 26th.

Voya Financial has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 6 years. Voya Financial has a payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Voya Financial to earn $11.27 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 16.7%.

Voya Financial Stock Up 1.6%

Shares of VOYA opened at $100.36 on Friday. The stock's 50-day moving average price is $91.86 and its two-hundred day moving average price is $80.11. Voya Financial has a 12 month low of $64.50 and a 12 month high of $103.85. The company has a market capitalization of $9.10 billion, a PE ratio of 15.16, a PEG ratio of 0.91 and a beta of 0.91. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48.

Voya Financial (NYSE:VOYA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.24. The company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.98 billion. Voya Financial had a return on equity of 13.84% and a net margin of 8.24%.The business's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share. On average, analysts anticipate that Voya Financial will post 9.32 EPS for the current year.

Voya Financial Company Profile

Voya Financial, Inc NYSE: VOYA is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya's operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya's core business activities span three key segments: Retirement, Investment Management and Employee Benefits.

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