Lazard, Inc. (NYSE:LAZ) Announces $0.50 Quarterly Dividend

Lazard, Inc. (NYSE:LAZ) announced a quarterly dividend on Wednesday, October 22nd. Stockholders of record on Monday, November 3rd will be paid a dividend of 0.50 per share by the asset manager on Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, November 3rd.

Lazard has a dividend payout ratio of 53.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Lazard to earn $5.06 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 39.5%.

Lazard Stock Down 2.4%

Shares of NYSE LAZ opened at $49.69 on Thursday. The company has a 50 day simple moving average of $53.69 and a 200-day simple moving average of $48.15. The company has a market capitalization of $5.60 billion, a P/E ratio of 17.13 and a beta of 1.37. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.53 and a quick ratio of 2.53. Lazard has a 1 year low of $31.97 and a 1 year high of $61.14.

Lazard (NYSE:LAZ) last posted its earnings results on Thursday, July 24th. The asset manager reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.14. Lazard had a net margin of 9.96% and a return on equity of 34.33%. The firm had revenue of $796.00 million during the quarter, compared to the consensus estimate of $674.13 million. During the same quarter last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities research analysts predict that Lazard will post 4.24 earnings per share for the current year.

Lazard Company Profile

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.