Expanding Horizons: First Internet Navigating Uncertain Times with Dividend Adjustments
By the close of today, January 16, 2024, First Internet (NASDAQ:INBK) will issue a dividend payout of $0.06 per share, resulting in an annualized dividend yield of 0.98%. Only those investors who owned the stock prior to the ex-dividend date on December 28, 2023 will receive this payout.
First Internet Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2023-12-28 | 4 | $0.06 | 0.98% | 2023-12-19 | 2023-12-29 | 2024-01-16 |
| 2023-09-28 | 4 | $0.06 | 1.37% | 2023-09-19 | 2023-09-29 | 2023-10-16 |
| 2023-06-29 | 4 | $0.06 | 1.63% | 2023-06-20 | 2023-06-30 | 2023-07-17 |
| 2023-03-30 | 4 | $0.06 | 1.26% | 2023-03-21 | 2023-03-31 | 2023-04-17 |
| 2022-12-29 | 4 | $0.06 | 1.06% | 2022-12-20 | 2022-12-30 | 2023-01-17 |
| 2022-09-29 | 4 | $0.06 | 0.65% | 2022-09-20 | 2022-09-30 | 2022-10-17 |
| 2022-06-30 | 4 | $0.06 | 0.65% | 2022-06-21 | 2022-07-01 | 2022-07-15 |
| 2022-03-30 | 4 | $0.06 | 0.51% | 2022-03-21 | 2022-03-31 | 2022-04-18 |
| 2021-12-30 | 4 | $0.06 | 0.56% | 2021-12-21 | 2021-12-31 | 2022-01-18 |
| 2021-09-29 | 4 | $0.06 | 0.79% | 2021-09-20 | 2021-09-30 | 2021-10-15 |
| 2021-06-30 | 4 | $0.06 | 0.79% | 2021-06-21 | 2021-07-01 | 2021-07-15 |
| 2021-03-30 | 4 | $0.06 | 0.62% | 2021-03-16 | 2021-03-31 | 2021-04-15 |
First Internet's dividend yield is on the lower end compared to its industry peers, with LCNB (NASDAQ:LCNB) having a higher annualized dividend yield of 5.90%.
Analyzing First Internet 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
The company has consistently maintained a dividend per share of $0.24 from 2020 to 2023. This unwavering dividend policy instills confidence in investors, as they can rely on a consistent income stream from the company's dividends.
YoY Earnings Growth For First Internet
Investors can observe a decrease in First Internet's earnings per share from $2.77 in 2020 to $2.04 in 2023. This declining earnings trend may be concerning for income-seeking investors, as it indicates a potential impact on the company's cash dividend payouts. A comprehensive analysis is recommended to understand the factors driving this decrease and evaluate its implications on future dividend payments.
Recap
This article delves into the recent dividend payout of First Internet and its implications for shareholders. Presently, the company is distributing a dividend of $0.06 per share, leading to an annualized dividend yield of 0.98%.
First Internet's dividend yield is on the lower end compared to its industry peers, with LCNB having a higher annualized dividend yield of 5.90%.
Despite no adjustment in the dividend per share over the period of 2020 to 2023, the consistent decrease in earnings per share for First Internet highlights a deteriorating financial status, potentially impacting the company's ability to share profits with its investors.
Investors should closely follow the company's performance in the coming quarters to stay up-to-date on any shifts in financials or dividend disbursements.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.