LexinFintech (LX) Considers Increasing Dividend Payout in 2024

LexinFintech (LX, Financial) shares surged over 7.7% to $3.37 as of the latest report. The company revealed plans to potentially increase its dividend payout ratio next year from the current 20% of net profit to 25%. This change could translate to an annual dividend yield of at least 5%, based on the current stock price. During an internal meeting organized by CICC, Lexin's management expressed optimism about significantly higher profits in the coming year. The company's Q2 net profit showed a 12% quarter-o ...