LexinFintech Holdings Ltd. (NASDAQ:LX) Plans Semi-annual Dividend of $0.11

LexinFintech Holdings Ltd. (NASDAQ:LX) announced a semi-annual dividend on Thursday, March 20th, Wall Street Journal reports. Stockholders of record on Thursday, April 17th will be paid a dividend of 0.11 per share on Friday, May 16th. This represents a dividend yield of 1.2%. The ex-dividend date is Thursday, April 17th. This is a 52.8% increase from LexinFintech’s previous semi-annual dividend of $0.07.

LexinFintech has a payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings.

LexinFintech Price Performance

Shares of LX stock traded down $0.25 during trading on Thursday, hitting $10.52. The company had a trading volume of 4,886,412 shares, compared to its average volume of 2,464,834. LexinFintech has a 52 week low of $1.56 and a 52 week high of $11.46. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 16.70 and a beta of 0.60. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average is $8.16 and its two-hundred day moving average is $5.32.

LexinFintech (NASDAQ:LX) last posted its quarterly earnings data on Tuesday, March 18th. The company reported $0.28 earnings per share for the quarter. LexinFintech had a net margin of 5.34% and a return on equity of 7.47%. The firm had revenue of $501.26 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded LexinFintech from a “neutral” rating to a “buy” rating in a report on Tuesday, November 26th.

LexinFintech Company Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.