Elevating Investor Returns: Sandy Spring Bancorp Delivers Strong Performance and Growing Profits
By the end of today, February 21, 2024, Sandy Spring Bancorp (NASDAQ:SASR) is set to deliver a dividend payout of $0.34 per share, equating to an annualized dividend yield of 5.58%. Shareholders who owned the stock prior to the ex-dividend date on February 13, 2024 will receive this payout.
Sandy Spring Bancorp Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2024-02-13 | 4 | $0.34 | 5.58% | 2024-02-01 | 2024-02-14 | 2024-02-21 |
| 2023-11-07 | 4 | $0.34 | 6.92% | 2023-10-26 | 2023-11-08 | 2023-11-15 |
| 2023-08-08 | 4 | $0.34 | 5.41% | 2023-07-27 | 2023-08-09 | 2023-08-16 |
| 2023-05-09 | 4 | $0.34 | 6.17% | 2023-04-27 | 2023-05-10 | 2023-05-17 |
| 2023-02-07 | 4 | $0.34 | 3.95% | 2023-01-26 | 2023-02-08 | 2023-02-15 |
| 2022-11-08 | 4 | $0.34 | 4.03% | 2022-10-27 | 2022-11-09 | 2022-11-16 |
| 2022-08-09 | 4 | $0.34 | 3.33% | 2022-07-28 | 2022-08-10 | 2022-08-17 |
| 2022-05-10 | 4 | $0.34 | 3.4% | 2022-04-28 | 2022-05-11 | 2022-05-18 |
| 2022-02-17 | 4 | $0.34 | 2.85% | 2022-01-27 | 2022-02-18 | 2022-02-28 |
| 2021-11-09 | 4 | $0.32 | 2.76% | 2021-10-28 | 2021-11-10 | 2021-11-17 |
| 2021-08-10 | 4 | $0.32 | 3.07% | 2021-07-29 | 2021-08-11 | 2021-08-18 |
| 2021-05-11 | 4 | $0.32 | 2.85% | 2021-04-29 | 2021-05-12 | 2021-05-19 |
Sandy Spring Bancorp's dividend yield falls in the middle range when compared to its industry peers, with Provident Finl Servs (NYSE:PFS) having the highest annualized dividend yield at 6.21%.
Analyzing Sandy Spring Bancorp 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
From 2020 to 2023, the company's dividend per share showed a positive trend, increasing steadily from $1.20 in 2020 to $1.36 in 2023. This demonstrates the company's commitment to rewarding shareholders by consistently raising dividends.
YoY Earnings Growth For Sandy Spring Bancorp
The earnings chart above shows that from 2020 to 2023, Sandy Spring Bancorp has experienced an increase in their earnings from $2.93 per share to $3.17 per share. This positive earnings trend is promising for income-seeking investors as it suggests that the company has more potential to increase its cash dividend payout if the trend continues.
Recap
This article provides an in-depth analysis of Sandy Spring Bancorp's recent dividend distribution and the impact it has on shareholders. The company is currently distributing a dividend of $0.34 per share, resulting in an annualized dividend yield of 5.58%.
Sandy Spring Bancorp's dividend yield falls in the middle range when compared to its industry peers, with Provident Finl Servs having the highest annualized dividend yield at 6.21%.
Considering the increase in dividend per share from 2020 to 2023 along with an increase in earnings per share, Sandy Spring Bancorp appears to be in a strong financial position, indicating their ability to sustain dividend distributions to investors.
It is advisable for investors to monitor the company's performance in the coming quarters to stay in the loop about any adjustments in financials or dividend disbursements.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.