Qifu Technology, Inc. (QFIN) to Issue Semi-annual Dividend of $0.70 on June 2nd

Qifu Technology, Inc. (NASDAQ:QFIN) declared a semi-annual dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Wednesday, April 23rd will be given a dividend of 0.70 per share on Monday, June 2nd. This represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. This is a 16.7% increase from Qifu Technology’s previous semi-annual dividend of $0.60.

Qifu Technology has raised its dividend by an average of 61.5% per year over the last three years. Qifu Technology has a payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Qifu Technology to earn $6.39 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 18.8%.

Qifu Technology Stock Performance

Shares of Qifu Technology stock opened at $44.89 on Friday. Qifu Technology has a 52-week low of $17.76 and a 52-week high of $48.81. The stock has a market capitalization of $7.08 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.32 and a beta of 0.59. The company has a 50-day simple moving average of $41.37 and a two-hundred day simple moving average of $35.97.

Qifu Technology (NASDAQ:QFIN) last released its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.14. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The company had revenue of $613.89 million for the quarter, compared to the consensus estimate of $581.67 million. As a group, equities research analysts forecast that Qifu Technology will post 5.71 EPS for the current fiscal 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.