Nelnet, Inc. (NNI) to Issue Quarterly Dividend of $0.28 on March 14th

Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Thursday, January 30th, RTT News reports. Investors of record on Friday, February 28th will be paid a dividend of 0.28 per share by the credit services provider on Friday, March 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, February 28th.

Nelnet has raised its dividend payment by an average of 7.6% per year over the last three years. Nelnet has a payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nelnet to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 19.0%.

Nelnet Trading Down 0.3 %

Shares of NYSE:NNI opened at $111.39 on Wednesday. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet has a 52-week low of $83.75 and a 52-week high of $127.32. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 36.64 and a beta of 0.91. The business has a 50-day moving average price of $108.89 and a 200-day moving average price of $110.56.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Nelnet from a “hold” rating to a “buy” rating in a research report on Saturday.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.