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Cohen & Steers (CNS) Rewards Shareholders With Dividend Hike
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Cohen & Steers (CNS - Free Report) has announced a hike in quarterly dividend. The company’s board of directors has declared a first-quarter 2022 cash dividend of 55 cents per share, marking an increase of 22.2% from the prior payout. The dividend will be paid out on Mar 17 to shareholders of record as of Mar 7.
Considering last day’s closing price of $78.06, Cohen & Steers’ dividend yield currently stands at 2.8%. Not only is the yield attractive for income investors, but it also represents a steady income stream.
Notably, CNS has been increasing its dividends annually since 2011. Prior to this hike, the company announced a 15.4% increase in quarterly dividend to 45 cents per share in February 2021.
The asset manager has also been paying special dividends. In November 2021, CNS announced a special dividend of $1.25 per share, followed by a $1 per share of special dividend announced in November 2020.
Investors are always on the lookout for companies with a track record of consistent and incremental dividend payments to bet their money on. The dividend hike announced by CNS makes the stock attractive to investors. But we must check whether it is worth investing in the company right now to earn this dividend income.
A deeper research into the asset managers’ financial performance and fundamentals will help understand its risks and rewards.
Cohen & Steers’ total GAAP revenues witnessed a compound annual growth rate (CAGR) of 10.7% over the last six years (2016-2021). The increase has been mainly driven by solid asset under management (AUM) balance, which recorded a CAGR of 12.2% over the same period. The company’s diverse product offerings and investment strategies are expected to continue to attract investors, thus aiding top-line growth.
CNS also has solid earnings growth history. Over the last three-five years, the company witnessed earnings growth of 12.3%, higher than the industry average of 9.8%.
Further, Cohen & Steers’ return on equity (ROE) currently stands at 87.37%, which compares favorably with the industry’s ROE of 16.72%. This highlights the company’s competitive edge over its peers.
Looking at its price performance, over the past year, shares of CNS have rallied 21.2% against the 7.6% decline recorded by the industry it belongs to.
Image Source: Zacks Investment Research
Based on the above-mentioned factors, Cohen & Steers stock looks like a good investment option right now. However, one must also consider the company’s negatives before making any investment decision.
CNS has been witnessing a continued rise in expenses over the past several years because of higher employee compensation and benefits costs. While expenses declined in 2021, overall costs are likely to remain elevated in the quarters ahead because of the company’s continued investments in technology upgrades. Thus, elevated costs might hurt bottom-line growth to an extent.
Dividend Hikes Announced by Other Finance Companies
Over the past few months, several finance sector companies have rewarded shareholders with dividend hikes. Some of these are Popular, Inc. (BPOP - Free Report) , Midland States Bancorp, Inc. (MSBI - Free Report) and HomeStreet, Inc. (HMST - Free Report) .
Popular declared a quarterly cash dividend of 55 cents per share, reflecting a rise of 25% from the prior payout. The dividend will be paid out on Apr 1 to shareholders of record as of Mar 15.
This marked the fourth consecutive annual dividend hike by BPOP. Prior to the hike, Popular hiked its dividend by 12.5% to 45 cents per share in May 2021.
Midland States declared a quarterly cash dividend of 29 cents per share, up 3.6% from the prior payout. The dividend was paid out on Feb 18 to its shareholders of record as of Feb 11.
This represented the 22nd consecutive annual hike in MSBI’s quarterly dividend. Prior to the hike, MSBI announced a 4.5% dividend hike to 28 cents per share in November 2021.
HomeStreet declared a quarterly dividend of 35 cents per share, representing a hike of 40% from the prior payout. The dividend was paid out on Feb 23 to its shareholders of record as of Feb 9.
This marked the third dividend hike by HMST. HomeStreet earlier increased its dividend by 66.7% to 25 cents per share in February 2021.
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Cohen & Steers (CNS) Rewards Shareholders With Dividend Hike
Cohen & Steers (CNS - Free Report) has announced a hike in quarterly dividend. The company’s board of directors has declared a first-quarter 2022 cash dividend of 55 cents per share, marking an increase of 22.2% from the prior payout. The dividend will be paid out on Mar 17 to shareholders of record as of Mar 7.
Considering last day’s closing price of $78.06, Cohen & Steers’ dividend yield currently stands at 2.8%. Not only is the yield attractive for income investors, but it also represents a steady income stream.
Notably, CNS has been increasing its dividends annually since 2011. Prior to this hike, the company announced a 15.4% increase in quarterly dividend to 45 cents per share in February 2021.
The asset manager has also been paying special dividends. In November 2021, CNS announced a special dividend of $1.25 per share, followed by a $1 per share of special dividend announced in November 2020.
Investors are always on the lookout for companies with a track record of consistent and incremental dividend payments to bet their money on. The dividend hike announced by CNS makes the stock attractive to investors. But we must check whether it is worth investing in the company right now to earn this dividend income.
A deeper research into the asset managers’ financial performance and fundamentals will help understand its risks and rewards.
Cohen & Steers’ total GAAP revenues witnessed a compound annual growth rate (CAGR) of 10.7% over the last six years (2016-2021). The increase has been mainly driven by solid asset under management (AUM) balance, which recorded a CAGR of 12.2% over the same period. The company’s diverse product offerings and investment strategies are expected to continue to attract investors, thus aiding top-line growth.
CNS also has solid earnings growth history. Over the last three-five years, the company witnessed earnings growth of 12.3%, higher than the industry average of 9.8%.
Further, Cohen & Steers’ return on equity (ROE) currently stands at 87.37%, which compares favorably with the industry’s ROE of 16.72%. This highlights the company’s competitive edge over its peers.
Looking at its price performance, over the past year, shares of CNS have rallied 21.2% against the 7.6% decline recorded by the industry it belongs to.
Image Source: Zacks Investment Research
Based on the above-mentioned factors, Cohen & Steers stock looks like a good investment option right now. However, one must also consider the company’s negatives before making any investment decision.
CNS has been witnessing a continued rise in expenses over the past several years because of higher employee compensation and benefits costs. While expenses declined in 2021, overall costs are likely to remain elevated in the quarters ahead because of the company’s continued investments in technology upgrades. Thus, elevated costs might hurt bottom-line growth to an extent.
Dividend Hikes Announced by Other Finance Companies
Over the past few months, several finance sector companies have rewarded shareholders with dividend hikes. Some of these are Popular, Inc. (BPOP - Free Report) , Midland States Bancorp, Inc. (MSBI - Free Report) and HomeStreet, Inc. (HMST - Free Report) .
Popular declared a quarterly cash dividend of 55 cents per share, reflecting a rise of 25% from the prior payout. The dividend will be paid out on Apr 1 to shareholders of record as of Mar 15.
This marked the fourth consecutive annual dividend hike by BPOP. Prior to the hike, Popular hiked its dividend by 12.5% to 45 cents per share in May 2021.
Midland States declared a quarterly cash dividend of 29 cents per share, up 3.6% from the prior payout. The dividend was paid out on Feb 18 to its shareholders of record as of Feb 11.
This represented the 22nd consecutive annual hike in MSBI’s quarterly dividend. Prior to the hike, MSBI announced a 4.5% dividend hike to 28 cents per share in November 2021.
HomeStreet declared a quarterly dividend of 35 cents per share, representing a hike of 40% from the prior payout. The dividend was paid out on Feb 23 to its shareholders of record as of Feb 9.
This marked the third dividend hike by HMST. HomeStreet earlier increased its dividend by 66.7% to 25 cents per share in February 2021.