Intercorp Financial Services Inc. (NYSE:IFS) Plans Dividend Increase – $1.80 Per Share

Intercorp Financial Services Inc. (NYSE:IFS) declared an annual dividend on Tuesday, March 31st. Shareholders of record on Friday, April 24th will be given a dividend of 1.80 per share on Tuesday, May 5th. This represents a yield of 358.0%. The ex-dividend date is Friday, April 24th. This is a 80.0% increase from Intercorp Financial Services’s previous annual dividend of $1.00.

Intercorp Financial Services has a dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Intercorp Financial Services to earn $6.09 per share next year, which means the company should continue to be able to cover its $1.71 annual dividend with an expected future payout ratio of 28.1%.

Intercorp Financial Services Price Performance

IFS opened at $47.55 on Wednesday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.39 and a beta of 0.85. The firm’s fifty day moving average price is $48.42 and its two-hundred day moving average price is $44.88. Intercorp Financial Services has a 1 year low of $31.05 and a 1 year high of $53.00.

About Intercorp Financial Services

Intercorp Financial Services (NYSE:IFS) is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company’s core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.