Financial services provider Ameriprise Financial, Inc. (
) late Monday posted lower-than-expected first quarter earnings
results but lifted its quarterly dividend payout by 25%.
The New York-based company reported first quarter net income of
$335 million, or $1.45 per share, compared with $344 million, or
$1.33 per share, in the year-ago period. Excluding items, earnings
from continuing operations were $1.06 per share.
Revenue rose 1% from last year to $2.56 billion.
On average, Wall Street analysts expected a much higher profit
of $1.36 per share, on larger revenue of $2.6 billion.
On a positive note, AMP said its board of directors approved a
25% raise in its quarterly dividend payout, from 28 cents to 35
cents per share.
Ameriprise shares closed down 61 cents, or -1.1%, in Monday
The Bottom Line
Shares of Ameriprise Financial (
) will now have a 2.65% dividend yield, based on the higher
dividend payout and today's closing stock price of $52.84. The
stock has technical support in the $46-$48 price area. If the
shares can firm up, we see overhead resistance around the $56-$58
Ameriprise Financial, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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