Lincoln National Corporation (LNC) Announces Dividend Increase – $0.33 Per Share
Lincoln National Corporation (NYSE:LNC) announced a quarterly dividend on Wednesday, November 1st, RTT News reports. Stockholders of record on Wednesday, January 10th will be paid a dividend of 0.33 per share by the financial services provider on Thursday, February 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Lincoln National Corporation’s previous quarterly dividend of $0.29.
Lincoln National Corporation has increased its dividend payment by an average of 27.7% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Lincoln National Corporation has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lincoln National Corporation to earn $7.72 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 15.0%.
Lincoln National Corporation (NYSE:LNC) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 EPS.
A number of research analysts have weighed in on LNC shares. BidaskClub lowered shares of Lincoln National Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a research report on Wednesday, August 2nd. Citigroup Inc. reissued a “buy” rating and set a $83.00 target price (up previously from $82.00) on shares of Lincoln National Corporation in a research report on Thursday, September 14th. Finally, Barclays PLC boosted their target price on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $76.50.
Lincoln National Corporation Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
Receive News & Ratings for Lincoln National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.