Ameriprise Financial, Inc. (NYSE:AMP) to Issue Dividend Increase – $1.70 Per Share

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Thursday, April 23rd. Shareholders of record on Monday, May 4th will be paid a dividend of 1.70 per share by the financial services provider on Friday, May 22nd. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, May 4th. This is a 6.2% increase from Ameriprise Financial’s previous quarterly dividend of $1.60.

Ameriprise Financial has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 21 years. Ameriprise Financial has a payout ratio of 16.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ameriprise Financial to earn $45.06 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 14.2%.

Ameriprise Financial Price Performance

Shares of AMP opened at $459.69 on Friday. The stock has a market cap of $41.91 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The firm’s 50-day simple moving average is $454.74 and its two-hundred day simple moving average is $474.78.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.50 EPS. Analysts anticipate that Ameriprise Financial will post 41.06 earnings per share for the current fiscal year.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.