Full Truck Alliance Co. Ltd. (NYSE:YMM) to Issue Dividend Increase – $0.14 Per Share

Full Truck Alliance Co. Ltd. (NYSE:YMM) announced an annual dividend on Thursday, March 6th, Wall Street Journal reports. Stockholders of record on Monday, April 7th will be given a dividend of 0.1444 per share on Friday, April 18th. This represents a dividend yield of 0.9%. The ex-dividend date is Monday, April 7th. This is a 0.3% increase from Full Truck Alliance’s previous annual dividend of $0.14.

Full Truck Alliance has a dividend payout ratio of 17.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Full Truck Alliance to earn $0.58 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 24.1%.

Full Truck Alliance Trading Up 0.1 %

YMM stock traded up $0.02 during trading on Thursday, hitting $13.28. 12,089,172 shares of the stock traded hands, compared to its average volume of 7,788,544. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 31.61 and a beta of 0.25. Full Truck Alliance has a one year low of $5.70 and a one year high of $13.53. The company has a 50 day simple moving average of $11.54 and a 200 day simple moving average of $9.88.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on YMM. Hsbc Global Res upgraded shares of Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Citigroup lifted their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $13.00 to $18.00 in a research note on Thursday. Finally, HSBC initiated coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They issued a “buy” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $14.50.

About Full Truck Alliance

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.