Visa Inc. (NYSE:V) Increases Dividend to $0.59 Per Share

Visa Inc. (NYSE:V - Get Free Report) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.59 per share by the credit-card processor on Monday, December 2nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa's previous quarterly dividend of $0.52.

Visa has increased its dividend by an average of 15.3% annually over the last three years and has raised its dividend every year for the last 16 years. Visa has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Visa to earn $11.08 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 18.8%.

Visa Stock Performance

Shares of V stock traded up $0.35 during mid-day trading on Thursday, reaching $290.51. The stock had a trading volume of 4,243,067 shares, compared to its average volume of 7,061,266. Visa has a one year low of $232.99 and a one year high of $296.34. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm's 50 day simple moving average is $280.09 and its 200 day simple moving average is $273.38. The firm has a market cap of $531.32 billion, a PE ratio of 32.82, a P/E/G ratio of 1.95 and a beta of 0.96.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.13. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the prior year, the firm posted $2.33 EPS. Visa's quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts forecast that Visa will post 9.92 EPS for the current year.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on V shares. Citigroup increased their target price on Visa from $319.00 to $326.00 and gave the stock a "buy" rating in a report on Wednesday. Susquehanna increased their target price on Visa from $326.00 to $339.00 and gave the stock a "positive" rating in a report on Wednesday. BNP Paribas raised Visa from a "neutral" rating to an "outperform" rating and set a $325.00 price target for the company in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods raised Visa from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, Morgan Stanley increased their price objective on Visa from $322.00 to $326.00 and gave the company an "overweight" rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $320.07.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.