Sun Life Financial Inc. (NYSE:SLF) to Issue Quarterly Dividend of $0.62

Posted by Hayley Millar on Nov 25th, 2024

Sun Life Financial Inc. (NYSE:SLF – Get Free Report) (TSE:SLF) announced a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Shareholders of record on Wednesday, November 27th will be given a dividend of 0.621 per share by the financial services provider on Tuesday, December 31st. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59.

Sun Life Financial has raised its dividend payment by an average of 10.5% per year over the last three years. Sun Life Financial has a payout ratio of 45.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sun Life Financial to earn $5.37 per share next year, which means the company should continue to be able to cover its $2.41 annual dividend with an expected future payout ratio of 44.9%.

Sun Life Financial Price Performance

SLF stock opened at $61.18 on Monday. Sun Life Financial has a 1 year low of $46.41 and a 1 year high of $61.86. The company has a market cap of $35.22 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The stock’s fifty day moving average price is $57.89 and its 200-day moving average price is $53.19.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Barclays began coverage on Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating for the company.

Check Out Our Latest Analysis on Sun Life Financial

Sun Life Financial Company Profile

(Get Free Report)

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.