Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Shareholders of record on Friday, August 31st will be paid a dividend of 0.16 per share by the credit services provider on Friday, September 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, August 30th.
Nelnet has raised its dividend payment by an average of 13.2% per year over the last three years and has raised its dividend annually for the last 2 consecutive years.
Shares of Nelnet traded down $1.88, reaching $57.11, during midday trading on Wednesday, according to Marketbeat. 56,584 shares of the company were exchanged, compared to its average volume of 71,125. The stock has a market cap of $2.39 billion, a PE ratio of 12.07 and a beta of 0.83. Nelnet has a 1-year low of $43.92 and a 1-year high of $64.00. The company has a debt-to-equity ratio of 9.45, a current ratio of 127.47 and a quick ratio of 127.47.
Nelnet (NYSE:NNI) last issued its quarterly earnings data on Tuesday, August 7th. The credit services provider reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. The company had revenue of $257.96 million for the quarter. Nelnet had a return on equity of 9.28% and a net margin of 17.43%.
A number of analysts have recently issued reports on the company. ValuEngine lowered Nelnet from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. TheStreet raised Nelnet from a “d+” rating to a “c” rating in a research report on Thursday, May 24th.
Nelnet Company Profile
Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.
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