Qifu Technology, Inc. (QFIN) to Issue Semi-annual Dividend of $0.70 on June 2nd

Qifu Technology, Inc. (NASDAQ:QFIN) announced a semi-annual dividend on Wednesday, March 19th, Wall Street Journal reports. Shareholders of record on Wednesday, April 23rd will be given a dividend of 0.70 per share on Monday, June 2nd. This represents a yield of 2.5%. The ex-dividend date is Wednesday, April 23rd. This is a 16.7% increase from Qifu Technology’s previous semi-annual dividend of $0.60.

Qifu Technology has increased its dividend by an average of 61.5% per year over the last three years. Qifu Technology has a payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Qifu Technology to earn $6.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 21.9%.

Qifu Technology Price Performance

Shares of Qifu Technology stock opened at $35.62 on Monday. Qifu Technology has a 1 year low of $17.95 and a 1 year high of $48.94. The company has a 50-day moving average of $41.55 and a 200 day moving average of $38.11. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN) last posted its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The company had revenue of $613.89 million during the quarter, compared to analyst estimates of $581.67 million. On average, equities analysts anticipate that Qifu Technology will post 5.71 EPS for the current year.

Analysts Set New Price Targets

Separately, Bank of America lifted their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a “buy” rating in a report on Wednesday, March 26th.

About Qifu Technology

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.