Amalgamated Financial Corp. (NASDAQ:AMAL) Plans Quarterly Dividend of $0.17

Amalgamated Financial Corp. (NASDAQ:AMAL) announced a quarterly dividend on Tuesday, January 20th. Stockholders of record on Tuesday, February 3rd will be given a dividend of 0.17 per share on Thursday, February 19th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, February 3rd. This is a 21.4% increase from Amalgamated Financial’s previous quarterly dividend of $0.14.

Amalgamated Financial has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Amalgamated Financial has a dividend payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Amalgamated Financial to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 14.0%.

Amalgamated Financial Stock Down 2.3%

Shares of NASDAQ:AMAL opened at $33.84 on Wednesday. Amalgamated Financial has a fifty-two week low of $25.03 and a fifty-two week high of $37.26. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $31.56 and its 200-day simple moving average is $29.77. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 10.19 and a beta of 0.82.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $86.41 million during the quarter, compared to the consensus estimate of $83.33 million. Amalgamated Financial had a net margin of 22.97% and a return on equity of 14.75%. As a group, equities research analysts predict that Amalgamated Financial will post 3.65 earnings per share for the current year.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.