Yirendai Ltd. Announces Special Dividend of $1.50 (NYSE:YRD)

Yirendai Ltd. (NYSE:YRD) announced a special dividend on Thursday, August 10th, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be paid a dividend of 1.50 per share by the technology company on Monday, October 16th. The ex-dividend date is Thursday, September 28th.

Shares of Yirendai (NYSE:YRD) traded down 3.02% during mid-day trading on Thursday, reaching $35.68. 540,386 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.13 billion, a P/E ratio of 10.77 and a beta of 8.56. The stock has a 50-day moving average of $30.55 and a 200 day moving average of $25.89. Yirendai has a one year low of $18.80 and a one year high of $42.34.

Yirendai (NYSE:YRD) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by $0.04. The firm had revenue of $773.79 million for the quarter, compared to analysts’ expectations of $153.78 million. Yirendai had a net margin of 32.37% and a return on equity of 80.79%. The business’s quarterly revenue was up 343.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. On average, analysts forecast that Yirendai will post $3.05 EPS for the current fiscal year.

Several equities analysts have commented on the company. Zacks Investment Research raised Yirendai from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Friday, August 4th. ValuEngine lowered Yirendai from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $42.00 price objective (up previously from $33.00) on shares of Yirendai in a research report on Tuesday, August 1st. They noted that the move was a valuation call.

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About Yirendai

Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.

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