MINNEAPOLIS - Ameriprise Financial, Inc. (NYSE: NYSE:AMP (OTC:AMLTF)), a leading financial services company, announced today that its Board of Directors has approved a 10 percent increase in its quarterly cash dividend.
The dividend, rising by $0.13, will now be $1.48 per common share. This enhanced dividend is scheduled to be paid on May 17, 2024, to shareholders who are on record as of the close of business on May 6, 2024.
The move reflects the company's continued commitment to delivering value to its shareholders and its confidence in the financial firm's stability and growth prospects. Ameriprise Financial has a longstanding history in the financial services sector, spanning more than 125 years, during which it has established a broad suite of financial products and services. These offerings range from investment advice and asset management to insurance solutions.
The company's extensive network, consisting of over 10,000 financial advisors, enables it to cater to a diverse clientele that includes both individual and institutional investors. The increase in dividend payout is a testament to Ameriprise Financial's robust financial position and its ability to generate a steady stream of income for its investors.
Shareholders of Ameriprise Financial can anticipate the receipt of the increased dividend in mid-May, following the record date in early May. The announcement is based on a press release statement from Ameriprise Financial and serves as an indicator of the company's financial health and its prioritization of shareholder returns.
InvestingPro Insights
Ameriprise Financial, Inc. (NYSE: AMP) has not only increased its quarterly cash dividend but also displays a strong financial position as reflected in key metrics from InvestingPro. With a market capitalization of $42.32 billion, the firm stands as a significant player in the financial services industry. The company's Price/Earnings (P/E) ratio is currently at 17.5, which aligns with industry standards, indicating a balanced valuation of the company's earnings.
InvestingPro data shows that Ameriprise Financial has experienced a revenue growth of 12.29% over the last twelve months as of Q4 2023, underscoring the company's ability to expand its income streams effectively. This growth is complemented by a Gross Profit Margin of 58.54%, demonstrating strong operational efficiency and profitability.
Investors may find Ameriprise Financial's commitment to shareholder returns particularly compelling, as evidenced by an 8.0% dividend growth and a stable dividend yield of 1.29%.
The company's history of dividend payments is notable, with InvestingPro Tips highlighting that Ameriprise Financial has raised its dividend for 19 consecutive years and maintained dividend payments for 20 consecutive years. Moreover, analysts have revised their earnings upwards for the upcoming period, which may signal further financial strength and potential for increased shareholder value.
For investors seeking more in-depth analysis and additional InvestingPro Tips for Ameriprise Financial, including its stock's low price volatility and high return over the last decade, visiting https://www.investing.com/pro/AMP could provide valuable insights. There are 11 more tips available on InvestingPro, and by using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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