Truist Financial Corporation (NYSE:TFC) Shareholders to Get $0.52 Quarterly Dividend

Truist Financial Corporation (NYSE:TFC) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.52 per share by the insurance provider on Tuesday, December 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, November 13th.

Truist Financial has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Truist Financial to earn $4.88 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 42.6%.

Truist Financial Price Performance

Shares of TFC stock opened at $48.59 on Wednesday. The firm has a 50-day moving average of $48.54 and a 200-day moving average of $49.52. The company has a market cap of $59.36 billion, a P/E ratio of 12.52 and a beta of 0.92. Truist Financial has a one year low of $43.13 and a one year high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the business posted $1.04 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, research analysts expect that Truist Financial will post 4.66 earnings per share for the current fiscal year.

Truist Financial Company Profile

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.