Sun Life Financial Inc. (NYSE:SLF) Declares Dividend Increase – $0.62 Per Share

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) declared a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Shareholders of record on Wednesday, November 27th will be given a dividend of 0.621 per share by the financial services provider on Tuesday, December 31st. This represents a $2.48 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59.

Sun Life Financial has raised its dividend by an average of 10.5% per year over the last three years. Sun Life Financial has a dividend payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Sun Life Financial to earn $5.37 per share next year, which means the company should continue to be able to cover its $2.41 annual dividend with an expected future payout ratio of 44.9%.

Sun Life Financial Price Performance

Shares of SLF opened at $61.58 on Tuesday. The company has a market capitalization of $35.45 billion, a P/E ratio of 13.71, a PEG ratio of 1.58 and a beta of 1.01. Sun Life Financial has a one year low of $46.41 and a one year high of $61.86. The business’s 50 day simple moving average is $57.99 and its 200-day simple moving average is $53.25.

Analyst Ratings Changes

SLF has been the topic of a number of research analyst reports. Barclays started coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.