NewtekOne, Inc. (NEWT) to Distribute Quarterly Dividend of $0.19 on October 1st

NewtekOne, Inc. (NASDAQ:NEWT) announced a quarterly dividend on Monday, September 14th. Shareholders of record on Thursday, September 24th will be paid a dividend of 0.19 per share by the business services provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Thursday, September 24th.

NewtekOne has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. NewtekOne has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NewtekOne to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 36.4%.

NewtekOne Trading Down 1.5%

Shares of NewtekOne stock opened at $12.08 on Wednesday. The stock has a market capitalization of $348.99 million, a P/E ratio of 5.44 and a beta of 1.27. NewtekOne has a 52-week low of $9.59 and a 52-week high of $15.69. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50-day simple moving average is $13.49 and its 200 day simple moving average is $13.09.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $90.05 million during the quarter, compared to analyst estimates of $75.00 million. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. As a group, research analysts anticipate that NewtekOne will post 1.75 EPS for the current year.

About NewtekOne

NewtekOne, Inc is a financial holding company that provides banking and business services primarily to small and medium-sized businesses and their owners. The company is the parent of Newtek Bank, N.A., a nationally chartered bank that offers commercial lending, business deposit accounts, treasury management and other financial products.

Newtek Bank’s lending activities include Small Business Administration (SBA) loans, commercial real estate financing and other business loans. Through its banking platform and affiliated operating companies, NewtekOne also provides services such as electronic payment processing, payroll, insurance and technology solutions designed to support the financial and operational needs of business customers.

The company was founded in 1999 and operated for many years as Newtek Business Services Corp., a business development company focused on providing financing and business services to small businesses.