Sun Life Financial Inc. (NYSE:SLF) Plans Quarterly Dividend of $0.59

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) declared a quarterly dividend on Monday, August 12th, Zacks reports. Investors of record on Wednesday, August 28th will be given a dividend of 0.587 per share by the financial services provider on Friday, September 27th. This represents a $2.35 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Wednesday, August 28th.

Sun Life Financial has increased its dividend by an average of 10.5% annually over the last three years. Sun Life Financial has a dividend payout ratio of 45.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sun Life Financial to earn $5.27 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 44.8%.

Sun Life Financial Trading Up 0.7 %

Shares of SLF stock traded up $0.35 during midday trading on Wednesday, reaching $50.86. 173,659 shares of the stock were exchanged, compared to its average volume of 698,572. Sun Life Financial has a 1 year low of $44.57 and a 1 year high of $55.46. The firm has a market cap of $29.42 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The company’s 50 day moving average is $49.01 and its two-hundred day moving average is $51.33.

Wall Street Analysts Forecast Growth

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

About Sun Life Financial

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.