Sun Life Financial Inc. (NYSE:SLF) Raises Dividend to $0.62 Per Share

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF declared a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders of record on Wednesday, November 27th will be paid 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 dividend yield of 4.22%. The ex-dividend date is Wednesday, November 27th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59.

Sun Life Financial has increased its dividend payment by an average of 10.5% per year over the last three years. Sun Life Financial has a payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sun Life Financial to earn $5.35 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 45.0%.

Sun Life Financial Stock Performance

SLF stock traded up $1.13 during trading on Wednesday, reaching $58.90. 1,195,531 shares of the company were exchanged, compared to its average volume of 656,957. The stock's 50 day moving average price is $56.62 and its 200 day moving average price is $52.48. Sun Life Financial has a 52-week low of $46.41 and a 52-week high of $59.03. The company has a market cap of $37.11 billion, a P/E ratio of 13.12, a PEG ratio of 1.43 and a beta of 1.01.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion. Sun Life Financial had a return on equity of 17.68% and a net margin of 7.32%. As a group, equities research analysts forecast that Sun Life Financial will post 4.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Barclays began coverage on Sun Life Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating for the company.

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.