Ameriprise Financial, Inc. (NYSE:AMP) Shareholders to Receive $1.70 Quarterly Dividend

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Monday, November 9th will be given a dividend of $1.70 per share by the financial services provider on Friday, November 27th. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, November 9th.

Ameriprise Financial has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Ameriprise Financial has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $50.85 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 13.4%.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $498.61 on Friday. Ameriprise Financial has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The stock has a market cap of $44.82 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.05 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50-day simple moving average is $520.69 and its 200 day simple moving average is $493.07.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, October 29th. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.77 by ($0.51). The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.10 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. Ameriprise Financial’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $9.92 EPS. As a group, research analysts anticipate that Ameriprise Financial will post 46.13 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has authorized a share buyback plan on Tuesday, September 29th that authorizes the company to buy back $5.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About Ameriprise Financial

Ameriprise Financial, Inc (NYSE:AMP) is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.