Washington Federal Inc. (NASDAQ:WAFD) to Issue Dividend Increase – $0.22 Per Share

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Washington Federal Inc. (NASDAQ:WAFD) declared a quarterly dividend on Wednesday, January 22nd, Zacks reports. Shareholders of record on Friday, February 7th will be given a dividend of 0.22 per share by the bank on Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.47%. The ex-dividend date is Thursday, February 6th. This is a boost from Washington Federal’s previous quarterly dividend of $0.21.

Washington Federal has increased its dividend payment by an average of 11.9% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Washington Federal has a payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Washington Federal to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 33.5%.

Washington Federal stock opened at $35.64 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.02 and a current ratio of 1.03. Washington Federal has a 52-week low of $27.82 and a 52-week high of $38.26. The firm has a 50 day moving average price of $36.47 and a two-hundred day moving average price of $36.21. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 12.73 and a beta of 1.10.

Several research analysts have issued reports on WAFD shares. BidaskClub lowered shares of Washington Federal from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 14th. ValuEngine lowered shares of Washington Federal from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $34.00.

Washington Federal Company Profile

Washington Federal, Inc operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services in the United States. The company accepts deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts.

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Dividend History for Washington Federal (NASDAQ:WAFD)

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