NEW YORK--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE:VOYA) announced today that its board of directors has declared a common stock dividend of $0.15 per share for the third quarter of 2019. The dividend is a significant increase from the company’s prior quarterly dividends of $0.01 per share.
“Voya Financial has made tremendous progress and demonstrated significant financial growth since becoming an independent company in 2013,” said Rodney O. Martin, Jr., chairman and CEO, Voya Financial, Inc. “We have a clear strategy with three complementary businesses that will enable us to expand our presence in the workplace and in serving institutional clients. These businesses also generate strong free cash flows, which we expect will continue to support excess capital generation.
“We are committed to deploying capital in a way that will drive greater value for our shareholders, as evidenced by the approximately $5.5 billion in excess capital that we have used for share repurchases. While share repurchases remain the primary component of our capital deployment plans, this increase in our common stock dividend is consistent with our plans to increase the dividend to a yield of at least 1% and gives us another opportunity to deliver value for our shareholders,” added Martin.
The third-quarter 2019 common stock dividend is payable on Sept. 27, 2019 to shareholders of record as of Aug. 29, 2019.
Voya also announced today that its board of directors has declared a semi-annual dividend of $30.625 per share on the company’s Series A 6.125% fixed-rate reset non-cumulative preferred stock, and a quarterly dividend of $12.9292 per share on the company’s Series B 5.35% fixed-rate reset non-cumulative preferred stock. Both preferred stock dividends are payable on Sept. 15, 2019 to shareholders of record as of Aug. 29, 2019.
About Voya Financial®
Voya Financial, Inc. (NYSE:VOYA), helps Americans plan, invest and protect their savings — to get ready to retire better. Serving the financial needs of approximately 13.8 million individual and institutional customers in the United States, Voya is a Fortune 500 company that had $8.5 billion in revenue in 2018. The company had $547 billion in total assets under management and administration as of March 31, 2019. With a clear mission to make a secure financial future possible — one person, one family, one institution at a time — Voya’s vision is to be America’s Retirement Company®. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible. Voya has been recognized as one of the 2019 World’s Most Ethical Companies® by the Ethisphere Institute; as a member of the Bloomberg Gender Equality Index; and as a “Best Place to Work for Disability Inclusion” on the Disability Equality Index by Disability:IN. For more information, visit voya.com. Follow Voya Financial on Facebook, LinkedIn and Twitter @Voya.