Qifu Technology, Inc. (NASDAQ:QFIN) Announces Dividend Increase – $0.60 Per Share

Qifu Technology, Inc. (NASDAQ:QFIN) declared a semi-annual dividend on Wednesday, August 14th, Wall Street Journal reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.60 per share on Friday, November 1st. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.57.

Qifu Technology has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Qifu Technology to earn $5.14 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 23.3%.

Qifu Technology Trading Down 3.2 %

Qifu Technology stock opened at $26.69 on Thursday. The company has a 50-day moving average price of $23.16 and a 200 day moving average price of $20.74. Qifu Technology has a 12-month low of $13.68 and a 12-month high of $27.60. The stock has a market cap of $4.31 billion, a P/E ratio of 6.91, a PEG ratio of 0.44 and a beta of 0.61.

Qifu Technology (NASDAQ:QFIN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.23. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. The business had revenue of $572.44 million during the quarter, compared to the consensus estimate of $582.69 million. As a group, analysts forecast that Qifu Technology will post 4.94 EPS for the current year.

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.