Voya Financial, Inc. (NYSE:VOYA) Declares Quarterly Dividend of $0.57

Voya Financial, Inc. (NYSE:VOYA) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Tuesday, November 24th will be paid a dividend of $0.57 per share by the asset manager on Tuesday, December 29th. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 24th. This is a 21.3% increase from Voya Financial’s previous quarterly dividend of $0.47.

Voya Financial has increased its dividend by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Voya Financial has a dividend payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Voya Financial to earn $11.34 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 16.6%.

Voya Financial Price Performance

Shares of NYSE VOYA opened at $98.42 on Friday. The company has a 50 day moving average of $98.51 and a 200 day moving average of $86.10. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.51. Voya Financial has a twelve month low of $64.50 and a twelve month high of $105.64. The firm has a market cap of $8.92 billion, a P/E ratio of 16.60, a PEG ratio of 0.98 and a beta of 0.90.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, August 4th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.47). The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Voya Financial had a return on equity of 12.31% and a net margin of 7.45%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 EPS. As a group, research analysts expect that Voya Financial will post 9.17 EPS for the current fiscal year.

Voya Financial Company Profile

Voya Financial, Inc is a U.S.-based financial services company that helps individuals, employers and institutions plan for retirement, manage investments and address employee benefit needs. Its businesses are organized primarily around Retirement, Employee Benefits and Investment Management.

Voya’s retirement business provides workplace retirement plans, including defined contribution and defined benefit solutions, as well as individual retirement products and advisory services. Its employee benefits operations offer products such as health, life, disability and supplemental insurance, along with benefits administration and related services for employers and their workers.

Through its investment management business, Voya provides institutional and individual investors with asset-management and advisory capabilities across a range of investment strategies.