1st Source Coping with Challenges: Bouncing Back with Steady Distribution and Decreasing Investor Rewards
By the end of today, November 15, 2023, 1st Source (NASDAQ:SRCE) is set to deliver a dividend payout of $0.34 per share, equating to an annualized dividend yield of 3.18%. Shareholders who owned the stock prior to the ex-dividend date on November 03, 2023 will receive this payout.
1st Source Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2023-11-03 | 4 | $0.34 | 3.18% | 2023-10-19 | 2023-11-06 | 2023-11-15 |
| 2023-07-31 | 4 | $0.32 | 2.83% | 2023-07-20 | 2023-08-01 | 2023-08-11 |
| 2023-05-01 | 4 | $0.32 | 2.93% | 2023-04-20 | 2023-05-02 | 2023-05-12 |
| 2023-02-03 | 4 | $0.32 | 2.49% | 2023-01-19 | 2023-02-06 | 2023-02-16 |
| 2022-10-31 | 4 | $0.32 | 2.5% | 2022-10-20 | 2022-11-01 | 2022-11-10 |
| 2022-08-01 | 4 | $0.32 | 2.83% | 2022-07-21 | 2022-08-02 | 2022-08-12 |
| 2022-05-02 | 4 | $0.31 | 2.66% | 2022-04-21 | 2022-05-03 | 2022-05-13 |
| 2022-02-07 | 4 | $0.31 | 2.42% | 2022-01-20 | 2022-02-08 | 2022-02-16 |
| 2021-11-01 | 4 | $0.31 | 2.55% | 2021-10-21 | 2021-11-02 | 2021-11-12 |
| 2021-08-02 | 4 | $0.31 | 2.87% | 2021-07-22 | 2021-08-03 | 2021-08-13 |
| 2021-05-03 | 4 | $0.3 | 2.59% | 2021-04-22 | 2021-05-04 | 2021-05-14 |
| 2021-02-01 | 4 | $0.29 | 2.72% | 2021-01-21 | 2021-02-02 | 2021-02-12 |
With a dividend yield that places it neither at the top nor the bottom, 1st Source finds itself in the middle among its industry peers, while Provident Finl Servs (NYSE:PFS) boasts the highest annualized dividend yield at 6.09%.
Analyzing 1st Source Financial Health
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing.
YoY Growth in Dividend Per Share
During the period of 2019 to 2022, the company experienced a notable growth in its dividend per share. The dividend per share increased from $1.10 to $1.26, reflecting the company's focus on providing greater returns to its shareholders.
YoY Earnings Growth For 1st Source
The earnings chart illustrates an increase in 1st Source's earnings per share, from $3.54 in 2019 to $4.71 in 2022. This positive earnings growth provides income-seeking investors with optimism, as it suggests potential for higher cash dividend payouts in the future.
Recap
This article delves into the recent dividend payout of 1st Source and its implications for shareholders. Presently, the company is distributing a dividend of $0.34 per share, leading to an annualized dividend yield of 3.18%.
With a dividend yield that places it neither at the top nor the bottom, 1st Source finds itself in the middle among its industry peers, while Provident Finl Servs boasts the highest annualized dividend yield at 6.09%.
The upward trend in dividend per share and earnings per share for 1st Source from 2019 to 2022 reflects a strong financial position, supporting the company's ability to consistently distribute profits to their investors.
It is essential for investors to closely track the company's performance in the coming quarters to remain updated regarding any alterations in financials or dividend disbursements.
[Click here](https://www.benzinga.com/stock//dividends) to find details on 1st Source's previous dividends.
To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
This article was generated by Benzinga's automated content engine and reviewed by an editor.