Abacus Global Management, Inc. (ABX) to Distribute Annual Dividend of $0.22 on December 16th

Abacus Global Management, Inc. (NYSE:ABX) announced an annual dividend on Thursday, November 5th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.22 per share on Wednesday, December 16th. This represents a dividend yield of 251.0%. The ex-dividend date is Tuesday, December 1st.

Abacus Global Management has a dividend payout ratio of 47.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Abacus Global Management to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 23.5%.

Abacus Global Management Stock Performance

Shares of Abacus Global Management stock opened at $8.77 on Friday. The company has a market cap of $857.72 million, a PE ratio of 9.49 and a beta of 0.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. Abacus Global Management has a 1-year low of $5.57 and a 1-year high of $12.44. The company has a 50 day moving average of $8.63 and a 200-day moving average of $9.18.

Abacus Global Management (NYSE:ABX) last released its earnings results on Thursday, November 5th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Abacus Global Management had a return on equity of 21.03% and a net margin of 10.55%. The business had revenue of $76.88 million for the quarter. During the same period in the prior year, the company earned $0.07 EPS. As a group, equities research analysts forecast that Abacus Global Management will post 1.05 earnings per share for the current fiscal year.

Abacus Global Management declared that its board has authorized a stock repurchase plan on Friday, August 14th that permits the company to repurchase $100 million in shares. This repurchase authorization permits the company to reacquire up to 12.2% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

About Abacus Global Management

Abacus Global Management, Inc is an alternative asset management company focused on longevity-linked assets and insurance-related financial products. Through its operating businesses, the company originates, acquires and manages life insurance policies, including life settlements, in which policyholders receive an upfront payment in exchange for transferring policy ownership and future benefits.

The company provides services across the life-settlement and insurance-asset lifecycle, including policy sourcing, underwriting, portfolio management, servicing and institutional asset management.