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

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) announced a quarterly dividend on Monday, August 12th, Zacks reports. Investors of record on Wednesday, August 28th will be paid a dividend of 0.587 per share by the financial services provider on Friday, September 27th. This represents a $2.35 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend is Wednesday, August 28th.

Sun Life Financial has raised its dividend by an average of 10.5% per year over the last three years. Sun Life Financial has a dividend payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Equities 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 1.1 %

SLF stock traded up $0.56 during trading on Wednesday, hitting $51.07. The company had a trading volume of 133,960 shares, compared to its average volume of 698,400. The company has a fifty day moving average price of $49.01 and a two-hundred day moving average price of $51.33. The company has a market cap of $29.54 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.25 and a beta of 0.99. Sun Life Financial has a fifty-two week low of $44.57 and a fifty-two week high of $55.46.

Analyst Ratings Changes

Separately, Argus raised Sun Life Financial to a “strong-buy” rating in a research note 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.