Corebridge Financial, Inc. (NYSE:CRBG) Plans Dividend Increase – $0.25 Per Share

Corebridge Financial, Inc. (NYSE:CRBG) announced a quarterly dividend on Monday, February 9th. Stockholders of record on Tuesday, March 17th will be paid a dividend of 0.25 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a 4.2% increase from Corebridge Financial’s previous quarterly dividend of $0.24.

Corebridge Financial has a payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Corebridge Financial to earn $6.29 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 15.3%.

Corebridge Financial Price Performance

Shares of Corebridge Financial stock traded down $0.06 during trading on Tuesday, reaching $31.13. The company’s stock had a trading volume of 540,852 shares, compared to its average volume of 4,002,341. The stock has a 50-day moving average price of $30.58 and a two-hundred day moving average price of $31.76. The stock has a market capitalization of $16.20 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 0.44 and a beta of 1.04. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.77. Corebridge Financial has a one year low of $23.69 and a one year high of $36.57.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Monday, February 9th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. Corebridge Financial had a net margin of 5.01% and a return on equity of 19.90%. The company had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. As a group, sell-side analysts anticipate that Corebridge Financial will post 5.43 EPS for the current fiscal year.

About Corebridge Financial

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.