Nelnet, Inc. (NYSE:NNI) Plans Dividend Increase – $0.36 Per Share

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.36 per share by the credit services provider on Tuesday, December 15th. This represents a $1.44 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a 9.1% increase from Nelnet’s previous quarterly dividend of $0.33.

Nelnet has raised its dividend by an average of 0.1% per year over the last three years. Nelnet has a payout ratio of 15.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nelnet to earn $8.50 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 15.5%.

Nelnet Trading Down 0.8%

Shares of NNI opened at $126.51 on Friday. The stock has a fifty day moving average price of $125.38 and a two-hundred day moving average price of $129.96. The company has a debt-to-equity ratio of 1.94, a quick ratio of 15.89 and a current ratio of 15.89. Nelnet has a 52-week low of $116.62 and a 52-week high of $144.38. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 15.52 and a beta of 0.78.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, November 5th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.06. The company had revenue of $436.59 million for the quarter, compared to analyst estimates of $427.37 million. Nelnet had a net margin of 14.35% and a return on equity of 8.26%. Analysts predict that Nelnet will post 7.42 EPS for the current fiscal year.

About Nelnet

Nelnet, Inc is a diversified education, technology and communications company headquartered in Lincoln, Nebraska. Its businesses provide services to colleges, universities, schools, students, borrowers and businesses, with a focus on simplifying education-related payments, administration and technology.

The company’s activities include student loan servicing and asset management, tuition payment processing, education technology, school administration solutions and communications services.