We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Stifel (SF) Rewards Shareholders With a 17% Dividend Hike
Read MoreHide Full Article
Stifel Financial Corp. (SF - Free Report) has increased its quarterly dividend payment. The company announced a quarterly cash dividend of 42 cents per share, 17% higher than the prior payout. This dividend will be paid out on Mar 15, 2024, to shareholders of record as of Mar 1.
Prior to this, SF hiked its dividend by 20% to 36 cents per share on Jan 24, 2023. The firm has increased its dividend payout five times in the past five years.
Also, the company has five-year annualized dividend growth of 40.53%. Currently, SF's payout ratio is 31% of earnings.
Based on yesterday's closing price of $74.71, Stifel currently has a dividend yield of 2.25%.
Moreover, Stifel has a share repurchase program in place. In January 2020, the company announced the addition of 4.9 million shares to its current program, making it 10 million shares. In 2023, it bought $441.3 million worth of shares at an average price of $61.16. As of Dec 2023, approximately 1.83 million shares remained available under the authorization.
As part of the effort to grow inorganically, Stifel acquired Torreya Partners LLC in March 2023, with an aim to strengthen its position as a leading global healthcare franchise. The Stifel Global Healthcare Group will operate with investment banking personnel across North America, Europe and Asia.
SF has been steady with its dividend hikes and a focus on inorganic growth. Also, the decent liquidity and strong balance sheet position will support its financials in the long run.
In the past six months, shares of SF have gained 19.9% compared with the industry’s 3.5% growth.
In January 2024, Bank OZK (OZK - Free Report) announced a hike in its quarterly dividend. It declared a quarterly cash dividend of 38 cents per share, marking an increase of 2.7% from the prior quarter. The dividend was paid out on Jan 23 to shareholders of record as of Jan 16.
Prior to the recent hike, OZK raised its dividend by 2.8% to 37 cents per share in October 2023. Also, it has five-year annualized dividend growth of 10.6%. Currently, OZK's payout ratio is 25% of earnings.
In December 2023, Fulton Financial Corporation (FULT - Free Report) announced a sequential dividend hike. The company declared a quarterly cash dividend of 17 cents per share, reflecting a rise of 6.3% from the prior payout. The dividend was paid out on Jan 12, 2024, to shareholders of record as of Jan 2.
Prior to the current hike, it increased its dividend by 6.7% to 16 cents per share in June 2023. FULT raised its quarterly dividend eight times in the last five years. Further, it has a five-year annualized dividend growth of 5.4%. Currently, FULT's payout ratio is 36% of earnings.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Stifel (SF) Rewards Shareholders With a 17% Dividend Hike
Stifel Financial Corp. (SF - Free Report) has increased its quarterly dividend payment. The company announced a quarterly cash dividend of 42 cents per share, 17% higher than the prior payout. This dividend will be paid out on Mar 15, 2024, to shareholders of record as of Mar 1.
Prior to this, SF hiked its dividend by 20% to 36 cents per share on Jan 24, 2023. The firm has increased its dividend payout five times in the past five years.
Also, the company has five-year annualized dividend growth of 40.53%. Currently, SF's payout ratio is 31% of earnings.
Based on yesterday's closing price of $74.71, Stifel currently has a dividend yield of 2.25%.
Moreover, Stifel has a share repurchase program in place. In January 2020, the company announced the addition of 4.9 million shares to its current program, making it 10 million shares. In 2023, it bought $441.3 million worth of shares at an average price of $61.16. As of Dec 2023, approximately 1.83 million shares remained available under the authorization.
As part of the effort to grow inorganically, Stifel acquired Torreya Partners LLC in March 2023, with an aim to strengthen its position as a leading global healthcare franchise. The Stifel Global Healthcare Group will operate with investment banking personnel across North America, Europe and Asia.
SF has been steady with its dividend hikes and a focus on inorganic growth. Also, the decent liquidity and strong balance sheet position will support its financials in the long run.
In the past six months, shares of SF have gained 19.9% compared with the industry’s 3.5% growth.
Image Source: Zacks Investment Research
Currently, SF carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Finance Stocks Taking Similar Steps
In January 2024, Bank OZK (OZK - Free Report) announced a hike in its quarterly dividend. It declared a quarterly cash dividend of 38 cents per share, marking an increase of 2.7% from the prior quarter. The dividend was paid out on Jan 23 to shareholders of record as of Jan 16.
Prior to the recent hike, OZK raised its dividend by 2.8% to 37 cents per share in October 2023. Also, it has five-year annualized dividend growth of 10.6%. Currently, OZK's payout ratio is 25% of earnings.
In December 2023, Fulton Financial Corporation (FULT - Free Report) announced a sequential dividend hike. The company declared a quarterly cash dividend of 17 cents per share, reflecting a rise of 6.3% from the prior payout. The dividend was paid out on Jan 12, 2024, to shareholders of record as of Jan 2.
Prior to the current hike, it increased its dividend by 6.7% to 16 cents per share in June 2023. FULT raised its quarterly dividend eight times in the last five years. Further, it has a five-year annualized dividend growth of 5.4%. Currently, FULT's payout ratio is 36% of earnings.