The board of directors of Lincoln National Corporation (LNC - Free Report) increased the company’s share buyback program. With the new approval, the company is authorized to repurchase shares up to $1 billion.
Share repurchases benefit the company’s earnings per share, book value and shareholder equity, as these reduce the number of shares outstanding. A solid liquidity position driven by sustained operational strength has always supported Lincoln National in effective capital deployment.
The insurer has always engaged in share buybacks to give a boost to the bottom line. Lincoln National spent $200 million to buy back 5.5 million shares during the reported quarter. The company repurchased about 15.5 million shares for $750 million in a period of 12 months. As of Mar 31, 2016, the company had $368 million worth of shares remaining under its authorization.
Concurrently, the board of directors also announced a quarterly cash dividend of 25 cents per share. Shareholders of record on Jul 11 will get the dividend on Aug 1. Its dividend yield of 2.17% is better than the industry average of 1.34%. Lincoln National’s capital deployment through share buyback and dividend payment looks impressive, making its stock an attractive pick for yield-seeking investors.
Currently, Lincoln National carries a Zacks Rank #3 (Hold). Some better-ranked life insurers include Health Insurance Innovations, Inc. , Manulife Financial Inc. (MFC - Free Report) and Sun Life Financial Inc. (SLF - Free Report) . While Health Insurance Innovations and Manulife Financial sport a Zacks Rank #1 (Strong Buy), Sun Life Financial carries a Zacks Rank #2 (Buy).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The board of directors of Lincoln National Corporation (LNC - Free Report) increased the company’s share buyback program. With the new approval, the company is authorized to repurchase shares up to $1 billion.
Share repurchases benefit the company’s earnings per share, book value and shareholder equity, as these reduce the number of shares outstanding. A solid liquidity position driven by sustained operational strength has always supported Lincoln National in effective capital deployment.
The insurer has always engaged in share buybacks to give a boost to the bottom line. Lincoln National spent $200 million to buy back 5.5 million shares during the reported quarter. The company repurchased about 15.5 million shares for $750 million in a period of 12 months. As of Mar 31, 2016, the company had $368 million worth of shares remaining under its authorization.
Concurrently, the board of directors also announced a quarterly cash dividend of 25 cents per share. Shareholders of record on Jul 11 will get the dividend on Aug 1. Its dividend yield of 2.17% is better than the industry average of 1.34%. Lincoln National’s capital deployment through share buyback and dividend payment looks impressive, making its stock an attractive pick for yield-seeking investors.
Currently, Lincoln National carries a Zacks Rank #3 (Hold). Some better-ranked life insurers include Health Insurance Innovations, Inc. , Manulife Financial Inc. (MFC - Free Report) and Sun Life Financial Inc. (SLF - Free Report) . While Health Insurance Innovations and Manulife Financial sport a Zacks Rank #1 (Strong Buy), Sun Life Financial carries a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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