Amalgamated Financial Corp. (NASDAQ:AMAL) Shares to Pay Quarterly Dividend of $0.17

Amalgamated Financial Corp. (NASDAQ:AMAL) declared a quarterly dividend on Tuesday, October 20th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $0.17 per share on Thursday, November 19th. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, November 3rd.

Amalgamated Financial has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 4 years. Amalgamated Financial has a dividend payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Amalgamated Financial to earn $4.63 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 14.7%.

Amalgamated Financial Price Performance

NASDAQ:AMAL traded down $0.32 during trading hours on Wednesday, reaching $47.65. 24,833 shares of the company traded hands, compared to its average volume of 178,373. The stock has a market cap of $1.42 billion, a P/E ratio of 12.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The firm’s 50-day moving average is $48.05 and its 200-day moving average is $45.50. Amalgamated Financial has a 1-year low of $26.03 and a 1-year high of $51.59.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The business had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. Equities research analysts expect that Amalgamated Financial will post 4.06 earnings per share for the current fiscal year.

About Amalgamated Financial

Amalgamated Financial Corporation (NASDAQ:AMAL) is the parent company of Amalgamated Bank, a commercial bank that provides banking, lending and financial services to businesses, nonprofit organizations, labor unions, political organizations and individual consumers. The bank is known for serving mission-driven and socially responsible organizations, as well as customers seeking conventional banking products.

Amalgamated Bank offers commercial and consumer deposits, commercial and real estate lending, treasury management, online and mobile banking, payment services, and investment management.