Ameriprise Financial, Inc. (AMP) to Distribute Quarterly Dividend of $1.70 on August 21st

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Monday, July 20th. Investors of record on Monday, August 3rd will be given a dividend of 1.70 per share by the financial services provider on Friday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd.

Ameriprise Financial has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 21 years. Ameriprise Financial has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $51.02 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 13.3%.

Ameriprise Financial Stock Up 0.5%

Shares of AMP stock opened at $547.28 on Friday. Ameriprise Financial has a one year low of $422.37 and a one year high of $553.46. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.66. The company has a market capitalization of $49.20 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.74 and a beta of 1.16. The company’s fifty day moving average price is $484.62 and its 200-day moving average price is $476.35.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company earned $9.11 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts expect that Ameriprise Financial will post 45.84 EPS for the current fiscal year.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.