Equitable Holdings, Inc. (EQH) to Issue Quarterly Dividend of $0.30 on June 8th

Equitable Holdings, Inc. (NYSE:EQH) declared a quarterly dividend on Wednesday, May 20th. Shareholders of record on Monday, June 1st will be paid a dividend of 0.30 per share on Monday, June 8th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, June 1st. This is a 11.1% increase from Equitable’s previous quarterly dividend of $0.27.

Equitable has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Equitable has a payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Equitable to earn $8.70 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 13.8%.

Equitable Trading Up 0.7%

Shares of EQH opened at $41.35 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 8.75. The firm’s 50-day moving average is $40.35 and its two-hundred day moving average is $43.38. Equitable has a twelve month low of $35.19 and a twelve month high of $56.61. The firm has a market capitalization of $11.64 billion, a P/E ratio of -14.56, a PEG ratio of 0.45 and a beta of 1.13.

Equitable (NYSE:EQH) last issued its earnings results on Monday, May 4th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.02. Equitable had a negative net margin of 7.26% and a positive return on equity of 232.29%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the business posted $1.35 earnings per share. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, research analysts predict that Equitable will post 7.07 earnings per share for the current fiscal year.

Equitable announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 11th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.