Qifu Technology, Inc. (NASDAQ:QFIN) Increases Dividend to $0.70 Per Share

Qifu Technology, Inc. (NASDAQ:QFIN) declared a semi-annual dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Wednesday, April 23rd will be given a dividend of 0.70 per share on Monday, June 2nd. This represents a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a 16.7% increase from Qifu Technology’s previous semi-annual dividend of $0.60.

Qifu Technology has raised its dividend payment by an average of 61.5% annually over the last three years. Qifu Technology has a payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Qifu Technology to earn $6.39 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 18.8%.

Qifu Technology Stock Down 2.5 %

Shares of NASDAQ QFIN opened at $44.89 on Friday. Qifu Technology has a 52 week low of $17.76 and a 52 week high of $48.81. The firm has a market cap of $7.08 billion, a P/E ratio of 9.09, a P/E/G ratio of 0.32 and a beta of 0.59. The business’s 50 day moving average price is $41.37 and its 200 day moving average price is $35.97.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The firm had revenue of $613.89 million for the quarter, compared to analysts’ expectations of $581.67 million. As a group, research analysts expect that Qifu Technology will post 5.71 earnings per share for the current year.

Qifu Technology Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.