Ameriprise Financial, Inc. (AMP) to Issue Quarterly Dividend of $1.70 on November 27th

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Monday, October 26th. Investors of record on Monday, November 9th will be given a dividend of $1.70 per share by the financial services provider on Friday, November 27th. This represents a $6.80 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 9th.

Ameriprise Financial has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Ameriprise Financial has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $51.22 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 13.3%.

Ameriprise Financial Trading Down 1.4%

Shares of AMP stock opened at $502.44 on Friday. The stock has a market capitalization of $43.62 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.08 and a beta of 1.13. The stock’s 50-day moving average price is $514.63 and its 200-day moving average price is $493.16. Ameriprise Financial has a 12-month low of $422.37 and a 12-month high of $572.56. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing the consensus estimate of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the business earned $9.92 earnings per share. Ameriprise Financial’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts predict that Ameriprise Financial will post 46.29 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has initiated a share buyback plan on Tuesday, September 29th that allows the company to repurchase $5.50 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

About Ameriprise Financial

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products.

The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis.

Ameriprise serves clients primarily in the United States through its network of financial advisors.