Zions Bancorporation (NASDAQ:ZION) has announced that it will trade ex-dividend in four days. In order to qualify for the next dividend of $0.41 per share, which is due to be paid on November 16th, investors are required to purchase shares before the record date of November 8th.
The company's total distribution last year amounted to $1.64 per share. This yield is approximately 4.9% based on the current share price of $33.23. Zions Bancorporation maintains a sustainable dividend policy, with a modest payout ratio of 30% of profit.
In addition, Zions Bancorporation has demonstrated consistent growth in earnings per share, with an increase of 15% annually over the past five years. The company has also shown an impressive average annual dividend growth rate of 45% over the last decade. These factors position Zions Bancorporation as a promising investment for those interested in dividend stocks.
InvestingPro Insights
InvestingPro's real-time data and insights offer valuable information for potential investors in Zions Bancorporation. According to InvestingPro data, Zions Bancorporation has a market capitalization of $4920 million, and a P/E ratio of 6.13, indicating a low earnings multiple. Over the last twelve months as of Q3 2023, the company has seen a revenue growth of 5.62%, despite a quarterly decrease of -4.36% in Q3 2023.
InvestingPro Tips highlight that Zions Bancorporation has consistently raised its dividend for 11 consecutive years, making it an attractive choice for dividend investors. Furthermore, 10 analysts have revised their earnings upwards for the upcoming period, suggesting a positive outlook for the company. Despite some concerns about weak gross profit margins, the company's stockholders have enjoyed high returns on book equity.
InvestingPro offers an additional 7 tips for Zions Bancorporation, providing further insights into the company's performance and potential investment value. With InvestingPro, investors can access a comprehensive range of data and tips to make informed decisions.
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