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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 2024 cash dividend of 59 cents per share, marking an increase of 3.5% from the prior payout. The dividend will be paid out on Mar 14 to shareholders on record as of Mar 4.
Considering last day’s closing price of $71.79, Cohen & Steers’ dividend yield currently stands at 3.29%. 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 3.6% increase in quarterly dividend to 57 cents per share in February 2022. Moreover, the company has five-year annualized dividend growth of 12.92%.
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 one must check whether it is worth investing in the company right now to earn this dividend income.
A thorough research into the asset manager’s financial performance and fundamentals will help understand its risks and rewards.
Cohen & Steers’ total revenues witnessed a compound annual growth rate (CAGR) of 4.5% over the last four years (ended 2023). The increase has been mainly driven by solid asset under management (AUM) balance, which recorded a CAGR of 3.6% over the same period. The company’s diverse product offerings and investment strategies are expected to continue attracting investors, thus aiding top-line growth.
CNS also has a solid earnings growth history. Over the last three to five years, the company witnessed earnings growth of 9.6%, higher than the industry average of 5.8%.
Further, Cohen & Steers’ return on equity (ROE) currently stands at 39.29%, which compares favorably with the industry’s ROE of 14.05%. This highlights the company’s competitive edge over its peers.
Looking at its price performance, over the past three months, shares of CNS have rallied 27.1% compared with the 18.7% rise 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 concerns being faced by CNS 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 2023, 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
Earlier this month, Stifel Financial Corp. (SF - Free Report) 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.
Also, WaFd, Inc. (WAFD - Free Report) raised its quarterly dividend. The company announced a quarterly cash dividend of 26 cents per share, marking an increase of 4% from the prior payout. This dividend will be paid out on Mar 8, 2024, to shareholders on record as of Feb 23, 2024.
Prior to this, the Zacks Rank #3 company had hiked its dividend by 4.2% to 25 cents per share on Mar 10, 2023. WAFD has increased its dividend payout five times in the past five years.
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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 2024 cash dividend of 59 cents per share, marking an increase of 3.5% from the prior payout. The dividend will be paid out on Mar 14 to shareholders on record as of Mar 4.
Considering last day’s closing price of $71.79, Cohen & Steers’ dividend yield currently stands at 3.29%. 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 3.6% increase in quarterly dividend to 57 cents per share in February 2022. Moreover, the company has five-year annualized dividend growth of 12.92%.
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 one must check whether it is worth investing in the company right now to earn this dividend income.
A thorough research into the asset manager’s financial performance and fundamentals will help understand its risks and rewards.
Cohen & Steers’ total revenues witnessed a compound annual growth rate (CAGR) of 4.5% over the last four years (ended 2023). The increase has been mainly driven by solid asset under management (AUM) balance, which recorded a CAGR of 3.6% over the same period. The company’s diverse product offerings and investment strategies are expected to continue attracting investors, thus aiding top-line growth.
CNS also has a solid earnings growth history. Over the last three to five years, the company witnessed earnings growth of 9.6%, higher than the industry average of 5.8%.
Further, Cohen & Steers’ return on equity (ROE) currently stands at 39.29%, which compares favorably with the industry’s ROE of 14.05%. This highlights the company’s competitive edge over its peers.
Looking at its price performance, over the past three months, shares of CNS have rallied 27.1% compared with the 18.7% rise 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 concerns being faced by CNS 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 2023, 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
Earlier this month, Stifel Financial Corp. (SF - Free Report) 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. This Zacks Rank #3 (Hold) company has increased its dividend payout five times in the past five years. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Also, WaFd, Inc. (WAFD - Free Report) raised its quarterly dividend. The company announced a quarterly cash dividend of 26 cents per share, marking an increase of 4% from the prior payout. This dividend will be paid out on Mar 8, 2024, to shareholders on record as of Feb 23, 2024.
Prior to this, the Zacks Rank #3 company had hiked its dividend by 4.2% to 25 cents per share on Mar 10, 2023. WAFD has increased its dividend payout five times in the past five years.