Prudential plc (NYSE:PUK) Announces Dividend Increase – $0.33 Per Share

Prudential plc (NYSE:PUK) declared a dividend on Thursday, March 20th, NASDAQ Dividends reports. Investors of record on Friday, March 28th will be paid a dividend of 0.3258 per share by the financial services provider on Wednesday, May 14th. The ex-dividend date is Friday, March 28th. This is a 37.4% increase from Prudential’s previous dividend of $0.24.

Prudential has increased its dividend by an average of 9.4% per year over the last three years. Prudential has a dividend payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Prudential to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.27 annual dividend with an expected future payout ratio of 13.5%.

Prudential Price Performance

Prudential stock opened at $20.68 on Friday. Prudential has a 12 month low of $14.39 and a 12 month high of $21.10. The company has a market cap of $27.20 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 0.41 and a beta of 1.21. The stock’s 50-day moving average is $17.73 and its 200-day moving average is $17.05.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Prudential from a “sell” rating to a “hold” rating in a research note on Saturday.

About Prudential

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.