RADNOR, Pa. - Lincoln Financial Group (NYSE:LNC) has declared a quarterly cash dividend of $0.45 per share on its common stock, as announced by the company's board of directors. The dividend is scheduled to be paid on August 1, 2024, to shareholders who are on record as of the close of business on July 10, 2024.
The declaration of this dividend follows the company's regular practice of providing returns to its shareholders and reflects its financial position as of the first quarter of 2024. As of March 31, 2024, Lincoln Financial Group reported end-of-period account balances, net of reinsurance, amounting to $310 billion.
Lincoln Financial Group, a company known for offering services in annuities, life insurance, group protection, and retirement plan services, serves approximately 17 million customers who rely on their guidance and solutions. The company emphasizes its commitment to helping people plan, protect, and retire with confidence.
This financial news is based on a press release statement from Lincoln Financial Group. The announcement is part of the company's routine financial communications and does not necessarily indicate any broader industry trends or significant changes in the company's overall strategy or financial health.
The dividend payment is in line with the company's historical practices and is subject to the standard procedures for dividend distributions on the New York Stock Exchange, where its stock is traded.
Investors and shareholders of Lincoln Financial Group are advised to mark the key dates of the record and payment for this upcoming dividend. No further details regarding the company's financial strategies or future prospects were disclosed in the press release.
InvestingPro Insights
As Lincoln Financial Group (NYSE:LNC) continues to reward its shareholders with a steady dividend, a closer look at the company's financial metrics provides a broader perspective on its performance and potential. According to recent data from InvestingPro, Lincoln Financial Group boasts a market capitalization of approximately $5.38 billion USD, underlining its substantial presence in the financial sector.
InvestingPro Tips highlight that the company is expected to see net income growth this year, with five analysts having revised their earnings upwards for the upcoming period, suggesting an optimistic outlook for Lincoln Financial Group's profitability.
Moreover, the company is trading at a low earnings multiple, with a P/E ratio of 4.25 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 3.69. This valuation could signal an attractive entry point for investors seeking a potentially undervalued stock.
Furthermore, Lincoln Financial Group's commitment to shareholder returns is evidenced by its impressive track record of maintaining dividend payments for 54 consecutive years. This consistency underscores the company's financial stability and dedication to providing value to its shareholders over the long term.
For investors interested in exploring further insights, there are additional InvestingPro Tips available, which can be accessed through the company's InvestingPro page at https://www.investing.com/pro/LNC. To enrich your investment research experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
In summary, while Lincoln Financial Group's dividend announcement reflects its ongoing practice of shareholder returns, the company's favorable growth prospects and attractive valuation metrics position it as an interesting candidate for investors' portfolios. With a total of 13 additional InvestingPro Tips available, investors have ample resources to make informed decisions about their investments in Lincoln Financial Group.
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