Voya Financial agreed to acquire OneAmerica’s retirement plan business for $50 million. This acquisition enhances Voya's capabilities and expands its client assets significantly. Voya expects to see over $200 million in net revenues post-acquisition. Transaction completion is pending regulatory approvals, expected by January 2025. Voya's stock has gained 3.2% year-to-date, lagging behind industry growth.
Voya Financial offers a dividend yield of 2.2%, above industry average. The company raised its annualized dividend by 29% year-over-year. Voya's earnings for 2024 are expected to grow by 4.11% per share. The current payout ratio of Voya stands at 19% of EPS. Voya is considered a strong dividend investment option.
