Sun Life Financial Inc. (NYSE:SLF) to Issue Quarterly Dividend of C$0.96

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) announced a quarterly dividend on Thursday, August 6th. Investors of record on Wednesday, August 26th will be paid a dividend of 0.96 per share by the financial services provider on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, August 26th.

Sun Life Financial has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 11 years. Sun Life Financial has a dividend payout ratio of 49.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sun Life Financial to earn $6.11 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 46.2%.

Sun Life Financial Price Performance

Shares of NYSE:SLF traded down $1.01 during trading on Friday, reaching $81.31. 470,002 shares of the company’s stock traded hands, compared to its average volume of 674,143. The stock has a market capitalization of $45.32 billion, a P/E ratio of 20.96 and a beta of 0.88. Sun Life Financial has a 12 month low of $56.22 and a 12 month high of $84.38. The company has a 50 day moving average of $78.68 and a 200-day moving average of $70.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. The firm had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $994.33 million. Equities research analysts predict that Sun Life Financial will post 5.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sun Life Financial

Several large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Sun Life Financial in the second quarter worth approximately $81,587,000. Deutsche Bank AG acquired a new stake in shares of Sun Life Financial during the 2nd quarter valued at $84,165,000. OneDigital Investment Advisors LLC bought a new stake in shares of Sun Life Financial during the 2nd quarter worth $258,000. Plato Investment Management Ltd bought a new stake in shares of Sun Life Financial during the 2nd quarter worth $2,888,000. Finally, HBK Sorce Advisory LLC acquired a new position in shares of Sun Life Financial in the 2nd quarter worth $1,511,000. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.