Jack Henry & Associates, Inc. (NASDAQ: JKHY) has announced a quarterly dividend increase to $0.61 per share, marking a significant boost for its shareholders. The announcement, made on February 9, 2024, details that investors on record by March 5, 2024, will receive this dividend on March 25, 2024. This increase reflects a 5.2% rise from the previous dividend of $0.58 per share.
The latest adjustment brings the company’s annualized dividend to $2.32, yielding approximately 1.4% based on current stock performance. The ex-dividend date is also set for March 5, 2024. Notably, Jack Henry & Associates has consistently increased its dividend payments, achieving this for 35 consecutive years with an average annual growth rate of 0.1% over the last three years.
The company’s financial stability is underscored by a payout ratio of 36.1%, indicating that dividends are well supported by earnings. Analysts anticipate earnings of $6.26 per share for the upcoming year, suggesting that the company can comfortably maintain its dividend with a projected future payout ratio of 37.1%.
In market activity, shares of Jack Henry & Associates fell by 1.0%, trading down $1.80 to hit $171.56 during mid-day trading. This comes amid a total volume of 1,511,820 shares exchanged, surpassing the average of 864,220. Over the past year, the stock has fluctuated between a low of $144.12 and a high of $196.00.
The company maintains a strong balance sheet, with a debt-to-equity ratio of 0.01, a current ratio of 1.54, and a quick ratio of 1.49. As of now, Jack Henry & Associates has a market capitalization of $12.42 billion, a P/E ratio of 24.65, and a P/E/G ratio of 2.66 with a beta of 0.71. Its stock is currently trading near a fifty-day moving average price of $183.37 and a 200-day moving average price of $168.29.
Founded in 1976 and headquartered in Monett, Missouri, Jack Henry & Associates is a leading provider of technology solutions and payment processing services tailored for the financial services sector. The company offers a comprehensive suite of software and services designed to enhance operational efficiency, boost customer engagement, and manage risk for banks, credit unions, and other financial institutions. Its core processing platforms deliver essential functionalities such as account processing, general ledger, deposit operations, and loan servicing.
