Sun Life Financial Inc. (NYSE:SLF) to Issue $0.59 Quarterly Dividend

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) declared a quarterly dividend on Monday, August 12th, Zacks reports. Shareholders of record on Wednesday, August 28th will be paid a dividend of 0.587 per share by the financial services provider on Friday, September 27th. This represents a $2.35 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, August 28th.

Sun Life Financial has increased its dividend payment by an average of 10.5% annually over the last three years. Sun Life Financial has a payout ratio of 44.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sun Life Financial to earn $5.36 per share next year, which means the company should continue to be able to cover its $2.37 annual dividend with an expected future payout ratio of 44.2%.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at $54.56 on Tuesday. The company has a 50-day simple moving average of $49.77 and a two-hundred day simple moving average of $51.39. Sun Life Financial has a 52-week low of $44.57 and a 52-week high of $55.46. The stock has a market capitalization of $31.63 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

Analysts Set New Price Targets

Separately, Argus raised shares of Sun Life Financial to a “strong-buy” rating in a report on Monday, June 3rd.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.