LexinFintech Holdings Ltd. (NASDAQ:LX) to Issue Dividend Increase – $0.11 Per Share

LexinFintech Holdings Ltd. (NASDAQ:LX) declared a semi-annual dividend on Thursday, March 20th, Wall Street Journal reports. Investors of record on Thursday, April 17th will be paid a dividend of 0.11 per share on Friday, May 16th. This represents a dividend yield of 1.2%. The ex-dividend date is Thursday, April 17th. This is a 52.8% increase from LexinFintech’s previous semi-annual dividend of $0.07.

LexinFintech has a dividend payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings.

LexinFintech Trading Down 2.3 %

LexinFintech stock traded down $0.25 during trading hours on Thursday, reaching $10.52. The stock had a trading volume of 4,886,412 shares, compared to its average volume of 2,464,834. The company has a fifty day simple moving average of $8.16 and a 200-day simple moving average of $5.32. LexinFintech has a 52 week low of $1.56 and a 52 week high of $11.46. The stock has a market cap of $1.73 billion, a PE ratio of 16.70 and a beta of 0.60. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 1.66.

LexinFintech (NASDAQ:LX) last posted its earnings results on Tuesday, March 18th. The company reported $0.28 earnings per share (EPS) for the quarter. The company had revenue of $501.26 million for the quarter. LexinFintech had a return on equity of 7.47% and a net margin of 5.34%.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday, November 26th.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.