Intercorp Financial Services Inc. (NYSE:IFS) to Issue Dividend Increase – $1.80 Per Share

Intercorp Financial Services Inc. (NYSE:IFS) declared an annual dividend on Tuesday, March 31st. Shareholders of record on Friday, April 24th will be paid a dividend of 1.80 per share on Tuesday, May 5th. This represents a yield of 358.0%. The ex-dividend date of this dividend is Friday, April 24th. This is a 80.0% increase from Intercorp Financial Services’s previous annual dividend of $1.00.

Intercorp Financial Services has a payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Intercorp Financial Services to earn $6.09 per share next year, which means the company should continue to be able to cover its $1.71 annual dividend with an expected future payout ratio of 28.1%.

Intercorp Financial Services Trading Down 2.9%

Shares of Intercorp Financial Services stock opened at $47.55 on Wednesday. Intercorp Financial Services has a 12-month low of $31.05 and a 12-month high of $53.00. The stock has a market cap of $5.28 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.39 and a beta of 0.85. The company has a 50-day moving average of $48.42 and a two-hundred day moving average of $44.88.

About Intercorp Financial Services

Intercorp Financial Services (NYSE:IFS) is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company’s core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.