FinVolution Group (FINV) To Go Ex-Dividend on April 16th

FinVolution Group (NYSE:FINV) announced an annual dividend on Monday, March 17th, Wall Street Journal reports. Stockholders of record on Wednesday, April 16th will be given a dividend of 0.277 per share on Wednesday, May 7th. This represents a dividend yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a 16.9% increase from FinVolution Group’s previous annual dividend of $0.24.

FinVolution Group has increased its dividend by an average of 11.7% annually over the last three years. FinVolution Group has a payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings.

FinVolution Group Stock Performance

FINV opened at $10.72 on Wednesday. The company has a 50-day moving average of $7.95 and a 200-day moving average of $6.84. The company has a market capitalization of $2.84 billion, a P/E ratio of 9.24 and a beta of 0.47. FinVolution Group has a 1-year low of $4.45 and a 1-year high of $11.25.

FinVolution Group (NYSE:FINV) last released its earnings results on Monday, March 17th. The company reported $0.38 earnings per share for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The company had revenue of $473.57 million during the quarter.

Analyst Ratings Changes

Separately, Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $6.00 to $11.00 in a research note on Tuesday.

FinVolution Group declared that its board has initiated a share repurchase plan on Monday, March 17th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

About FinVolution Group

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.