Qifu Technology, Inc. (NASDAQ:QFIN) Increases Dividend to $0.60 Per Share

Qifu Technology, Inc. (NASDAQ:QFIN) announced a semi-annual dividend on Wednesday, August 14th, Wall Street Journal reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.60 per share on Friday, November 1st. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.57.

Qifu Technology has a dividend payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Qifu Technology to earn $5.14 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 23.3%.

Qifu Technology Price Performance

Shares of Qifu Technology stock opened at $26.69 on Thursday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 6.91, a price-to-earnings-growth ratio of 0.44 and a beta of 0.61. The business has a 50-day moving average of $23.16 and a 200 day moving average of $20.74. Qifu Technology has a 12 month low of $13.68 and a 12 month high of $27.60.

Qifu Technology (NASDAQ:QFIN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.23. Qifu Technology had a return on equity of 21.82% and a net margin of 28.06%. The business had revenue of $572.44 million for the quarter, compared to analyst estimates of $582.69 million. Equities research analysts anticipate that Qifu Technology will post 4.94 earnings per share for the current year.

Qifu Technology Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.