DETROIT - Ally Financial Inc. (NYSE: NYSE:ALLY), a leading digital financial services company, announced on Tuesday its board of directors has declared a quarterly cash dividend for its common and preferred stock. Shareholders of common stock will receive a dividend of $0.30 per share, payable on May 15, 2024, to those on record as of May 1, 2024.
In addition to the common stock dividend, the company also declared dividends on its preferred stock. Holders of the 4.700% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, will receive approximately $15.9 million in total, or $11.75 per share, with the payment date set for May 15, 2024, for shareholders of record as of April 30, 2024.
Similarly, dividends on the Series C preferred stock will amount to roughly $11.8 million, or $11.75 per share, also payable on May 15 to shareholders of record by April 30.
Ally Financial, known for operating the nation's largest all-digital bank, provides a wide array of financial services. These include online banking services such as deposits, mortgages, and personal lending, as well as securities brokerage and investment advisory services.
The company's auto financing and insurance offerings, alongside its corporate finance business that caters to equity sponsors and middle-market companies, round out its diverse financial portfolio. Ally serves over 11 million customers and is committed to its mission of being a relentless ally for its customers and communities.
The announcement of these dividends follows Ally Financial's consistent practice of returning value to its shareholders and reflects the company's financial stability. The information is based on a press release statement from Ally Financial.
InvestingPro Insights
Ally Financial Inc. (NYSE: ALLY) has recently declared dividends for its common and preferred stock, highlighting its commitment to shareholder returns. This move aligns with the company's history of maintaining dividend payments for 9 consecutive years, as noted in an InvestingPro Tip.
The company's track record of profitability is further underscored by another InvestingPro Tip indicating that analysts predict Ally will remain profitable this year, a sentiment backed by the company's performance over the last twelve months.
From a financial perspective, Ally's market capitalization stands at $11.12 billion, with a Price/Earnings (P/E) ratio of 12.16, which adjusts to a slightly lower 10.89 based on the last twelve months as of Q4 2023.
The company's Price to Book (P/B) ratio during the same period is 0.97, suggesting that the stock may be reasonably valued in relation to its net asset value. Additionally, the stock has experienced a large price uptick over the last six months, with a 56.68% total return, reflecting robust market confidence.
For investors seeking more in-depth analysis and additional InvestingPro Tips, Ally Financial's dedicated page on Investing.com contains 7 more tips to help make informed decisions. Moreover, users can apply the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to comprehensive financial analytics and insights.
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