Thriving with Robust Performance: Provident Finl Servs Delivers Growing Profits to Investors
Investors eagerly anticipate the dividend payout from Provident Finl Servs (NYSE:PFS) on February 23, 2024. With a payout of $0.24 per share and an annualized dividend yield of 5.47%, this reward is exclusively for shareholders who held the stock before the ex-dividend date on February 08, 2024
Provident Finl Servs Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2024-02-08 | 4 | $0.24 | 5.47% | 2024-01-25 | 2024-02-09 | 2024-02-23 |
| 2023-11-09 | 4 | $0.24 | 6.93% | 2023-10-26 | 2023-11-10 | 2023-11-24 |
| 2023-08-10 | 4 | $0.24 | 4.96% | 2023-07-27 | 2023-08-11 | 2023-08-25 |
| 2023-05-11 | 4 | $0.24 | 5.55% | 2023-04-27 | 2023-05-12 | 2023-05-26 |
| 2023-02-09 | 4 | $0.24 | 4.29% | 2023-01-27 | 2023-02-10 | 2023-02-24 |
| 2022-11-09 | 4 | $0.24 | 4.58% | 2022-10-28 | 2022-11-10 | 2022-11-25 |
| 2022-08-11 | 4 | $0.24 | 4.01% | 2022-07-29 | 2022-08-12 | 2022-08-26 |
| 2022-05-12 | 4 | $0.24 | 4.35% | 2022-04-29 | 2022-05-13 | 2022-05-27 |
| 2022-02-10 | 4 | $0.24 | 4.07% | 2022-01-28 | 2022-02-11 | 2022-02-25 |
| 2021-11-10 | 4 | $0.24 | 3.86% | 2021-10-29 | 2021-11-12 | 2021-11-26 |
| 2021-08-12 | 4 | $0.23 | 4.23% | 2021-07-30 | 2021-08-13 | 2021-08-27 |
| 2021-05-13 | 4 | $0.23 | 3.83% | 2021-04-30 | 2021-05-14 | 2021-05-28 |
With a dividend yield that places it neither at the top nor the bottom, Provident Finl Servs finds itself in the middle among its industry peers, while Sandy Spring Bancorp (NASDAQ:SASR) boasts the highest annualized dividend yield at 6.21%.
Analyzing Provident Finl Servs 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
As you can see, from 2020 to 2023, investors saw an average increase in the company's dividend per share, rising from $0.92 in 2020 to $0.96 in 2023. This is good for investors because it shows that the company has steadily returned more capital back to their shareholders and it could mean that they are planning to continue increasing dividends.
YoY Earnings Growth For Provident Finl Servs
The earnings chart above shows that from 2020 to 2023, Provident Finl Servs has experienced an increase in their earnings from $1.25 per share to $2.01 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 takes an in-depth look at Provident Finl Servs's recent dividend payout and its implications for shareholders. The company is currently distributing a dividend of $0.24 per share today, translating to an annualized dividend yield of 5.47%.
With a dividend yield that places it neither at the top nor the bottom, Provident Finl Servs finds itself in the middle among its industry peers, while Sandy Spring Bancorp boasts the highest annualized dividend yield at 6.21%.
Given that Provident Finl Servs has experienced an increase in dividend per share from 2020 to 2023 along with an increase in earnings per share, it could signal that the company is in good financial standing and that they could be positioned to continue distributing their profits back to their 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.