Nelnet, Inc. (NYSE:NNI) to Issue $0.33 Quarterly Dividend

Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Monday, June 1st will be given a dividend of 0.33 per share by the credit services provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, June 1st.

Nelnet has increased its dividend by an average of 0.1%annually over the last three years. Nelnet has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nelnet to earn $10.00 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 13.2%.

Nelnet Stock Up 0.7%

NNI stock opened at $141.46 on Friday. Nelnet has a twelve month low of $105.45 and a twelve month high of $144.38. The company has a quick ratio of 28.27, a current ratio of 28.27 and a debt-to-equity ratio of 2.18. The stock’s 50 day moving average is $133.31 and its 200-day moving average is $132.34. The firm has a market capitalization of $5.08 billion, a PE ratio of 12.02 and a beta of 0.83.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.72). Nelnet had a net margin of 18.99% and a return on equity of 12.43%. The company had revenue of $419.06 million during the quarter, compared to the consensus estimate of $443.84 million. Sell-side analysts expect that Nelnet will post 9.2 EPS for the current fiscal year.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.