Nelnet, Inc. (NYSE:NNI) Raises Dividend to $0.36 Per Share

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.36 per share by the credit services provider on Tuesday, December 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, December 1st. This is a 9.1% increase from Nelnet’s previous quarterly dividend of $0.33.

Nelnet has raised its dividend by an average of 0.1% annually over the last three years. Nelnet has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nelnet to earn $8.50 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 15.5%.

Nelnet Price Performance

Nelnet stock opened at $126.51 on Friday. The company has a current ratio of 15.89, a quick ratio of 15.89 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $4.53 billion, a P/E ratio of 15.13 and a beta of 0.78. The business has a 50-day moving average of $125.38 and a 200-day moving average of $129.96. Nelnet has a 1 year low of $116.62 and a 1 year high of $144.38.

Nelnet (NYSE:NNI) last released its quarterly earnings data on Thursday, November 5th. The credit services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.06. Nelnet had a net margin of 14.35% and a return on equity of 8.26%. The business had revenue of $436.59 million for the quarter, compared to analyst estimates of $427.37 million. On average, equities analysts anticipate that Nelnet will post 7.42 EPS for the current year.

Nelnet Company Profile

Nelnet, Inc is a diversified education, technology and communications company headquartered in Lincoln, Nebraska. Its businesses provide services to colleges, universities, schools, students, borrowers and businesses, with a focus on simplifying education-related payments, administration and technology.

The company’s activities include student loan servicing and asset management, tuition payment processing, education technology, school administration solutions and communications services.