Nelnet, Inc. Announces Quarterly Dividend of $0.33 (NYSE:NNI)

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Thursday, August 6th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.33 per share by the credit services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 1st.

Nelnet has raised its dividend by an average of 0.1%annually over the last three years. Nelnet has a dividend payout ratio of 15.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Nelnet to earn $9.58 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 13.8%.

Nelnet Stock Down 2.2%

Shares of NYSE NNI traded down $3.02 during mid-day trading on Friday, hitting $131.82. 101,301 shares of the stock traded hands, compared to its average volume of 130,127. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 11.48 and a beta of 0.78. The stock has a fifty day moving average price of $132.41 and a 200-day moving average price of $131.89. Nelnet has a 52 week low of $116.62 and a 52 week high of $144.38. The company has a debt-to-equity ratio of 2.14, a quick ratio of 24.07 and a current ratio of 24.07.

Nelnet (NYSE:NNI) last announced its quarterly earnings data on Thursday, August 6th. The credit services provider reported $1.77 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.36). The firm had revenue of $410.01 million for the quarter, compared to analysts’ expectations of $419.92 million. Nelnet had a net margin of 18.45% and a return on equity of 11.73%. Research analysts anticipate that Nelnet will post 8.18 EPS for the current year.

About Nelnet

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.