FinVolution Group (NYSE:FINV) Declares Annual Dividend of $0.28

FinVolution Group (NYSE:FINV) announced an annual dividend on Monday, March 17th, Wall Street Journal reports. Stockholders of record on Wednesday, April 16th will be given a dividend of 0.277 per share on Wednesday, May 7th. This represents a dividend yield of 2%. The ex-dividend date is Wednesday, April 16th. This is a 16.9% increase from FinVolution Group’s previous annual dividend of $0.24.

FinVolution Group has raised its dividend by an average of 11.7% annually over the last three years. FinVolution Group has a dividend payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings.

FinVolution Group Price Performance

Shares of FINV traded up $1.60 during trading hours on Tuesday, hitting $10.72. 4,578,425 shares of the company were exchanged, compared to its average volume of 714,181. The company has a market capitalization of $2.84 billion, a PE ratio of 9.24 and a beta of 0.47. The firm has a fifty day simple moving average of $7.87 and a 200-day simple moving average of $6.80. FinVolution Group has a one year low of $4.45 and a one year high of $11.05.

FinVolution Group (NYSE:FINV) last released its earnings results on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. The company had revenue of $473.57 million during the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.

FinVolution Group announced that its board has initiated a share buyback plan on Monday, March 17th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Separately, Citigroup upgraded FinVolution Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $6.00 to $11.00 in a report on Tuesday.

FinVolution Group Company Profile

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.