Prudential plc (NYSE:PUK) Declares Dividend Increase – $0.33 Per Share

Prudential plc (NYSE:PUK) announced a dividend on Thursday, March 20th, NASDAQ Dividends reports. Shareholders of record on Friday, March 28th will be paid a dividend of 0.3258 per share by the financial services provider on Wednesday, May 14th. The ex-dividend date of this dividend is Friday, March 28th. This is a 37.4% increase from Prudential’s previous dividend of $0.24.

Prudential has increased its dividend payment by an average of 9.4% annually over the last three years. Prudential has a payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Prudential to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.27 annual dividend with an expected future payout ratio of 13.5%.

Prudential Trading Down 0.2 %

PUK traded down $0.04 on Friday, hitting $20.68. 1,204,017 shares of the company’s stock were exchanged, compared to its average volume of 1,018,251. Prudential has a fifty-two week low of $14.39 and a fifty-two week high of $21.10. The firm has a 50-day moving average price of $17.61 and a 200-day moving average price of $17.02. The stock has a market cap of $27.20 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 0.41 and a beta of 1.21.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Prudential from a “hold” rating to a “sell” rating in a research note on Friday, March 14th.

Prudential Company Profile

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.