Fidelity National Hikes Dividend by 21%; Street Says Buy

Financial services and products provider Fidelity National Information Services, Inc. (NYSE: FIS), popularly known as FIS, recently announced a quarterly dividend of $0.47 per share, an increase of about 21% from the previous dividend of $0.39 per share.

The dividend will be paid on March 25, 2022, to shareholders of record as of March 11, 2022.

The company’s annual dividend of $1.88 per share now reflects a dividend yield of 1.7% based on Thursday’s closing price.

Management Commentary

The CEO of FIS, Gary Norcross, said, “The Board’s decision to increase our quarterly dividend reflects continued confidence in the strength of our financial position, the durability of our business model and the future of FIS. Our strong business fundamentals and robust free cash flow enable us to simultaneously invest for growth, meet our leverage targets and return capital to our shareholders.”

Stock Ratings

Recently, Citigroup analyst Ashwin Shirvaikar reiterated a Buy rating on the stock with a price target of $138, which implies upside potential of 26.3% from current levels.

Consensus among analysts is a Strong Buy based on 15 Buys and 5 Holds. The average FIS price target of $143.58 implies upside potential of 31.4% from current levels. Shares have declined 12.8% over the past year.

News Sentiment

News Sentiment for FIS is Positive based on 9 articles over the past seven days. 100% of the articles have Bullish sentiment, compared to the sector average of 61%.

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