Qifu Technology, Inc. (NASDAQ:QFIN) Raises Dividend to $0.70 Per Share

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) declared a semi-annual dividend on Thursday, March 20th, Wall Street Journal reports. Investors of record on Wednesday, April 23rd will be paid a dividend of 0.70 per share on Monday, June 2nd. This represents a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. This is a 16.7% increase from Qifu Technology's previous semi-annual dividend of $0.60.

Qifu Technology has raised its dividend by an average of 61.5% annually over the last three years. Qifu Technology has a payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Qifu Technology to earn $6.39 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 18.8%.

Qifu Technology Stock Performance

QFIN stock traded down $0.44 during mid-day trading on Monday, hitting $44.45. 1,306,107 shares of the company were exchanged, compared to its average volume of 1,314,332. Qifu Technology has a 1-year low of $17.76 and a 1-year high of $48.81. The firm's 50 day simple moving average is $41.37 and its 200 day simple moving average is $36.12. The firm has a market cap of $7.01 billion, a P/E ratio of 9.00, a P/E/G ratio of 0.32 and a beta of 0.59.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings data on Sunday, March 16th. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.68 by $0.14. The business had revenue of $613.89 million for the quarter, compared to analysts' expectations of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. On average, equities research analysts predict that Qifu Technology will post 5.71 EPS for the current fiscal year.

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About Qifu Technology

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.