Amalgamated Financial Corp. (AMAL) to Issue Quarterly Dividend of $0.17 on May 21st

Amalgamated Financial Corp. (NASDAQ:AMAL) declared a quarterly dividend on Tuesday, April 21st. Stockholders of record on Tuesday, May 5th will be paid a dividend of 0.17 per share on Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, May 5th.

Amalgamated Financial has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Amalgamated Financial has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Amalgamated Financial to earn $4.57 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 14.9%.

Amalgamated Financial Stock Down 1.8%

Shares of AMAL opened at $42.31 on Thursday. The company has a 50-day simple moving average of $39.68 and a 200-day simple moving average of $34.47. The firm has a market capitalization of $1.26 billion, a P/E ratio of 12.41 and a beta of 0.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.67 and a current ratio of 0.67. Amalgamated Financial has a 52 week low of $25.13 and a 52 week high of $44.01.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.18). The company had revenue of $91.36 million for the quarter, compared to analyst estimates of $91.16 million. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.60%. On average, equities research analysts expect that Amalgamated Financial will post 4.06 earnings per share for the current year.

About Amalgamated Financial

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.