← Banks & insurers

Only one basis is shown, and that is the point. Operating and free cash flow swing with loan, deposit and reserve movements, so for a lender or insurer neither says anything about whether the dividend is affordable. Investment income is omitted for a second reason: insurers file it under the same tag a BDC uses, but it means investment income on float rather than the money that funds the distribution. Screeners that publish these for a bank are printing arithmetic, not information — and a wide gap between them is noise, not a finding.

Coverage rating 40 / 100 — Tight. ? Peer standing 25/50Direction 4/30Stability 11/20

Against its own history: 26.4% this year vs 14.9% median over the prior 5. A gap this size is usually a one-off — acquisition, settlement, cyclical trough — not a dividend that stopped being funded. The rating reads the latest year; the table shows the trend.

GAAP earnings payout, last 6 years

Coverage has deteriorated three years running, 14.3% to 26.4%. Still covered, but moving the wrong way.

Among the 142 banks & insurers companies here, 50% pay out a larger share on this basis.

The arithmetic

• GAAP earnings — dividends declared per share $1.20 ÷ diluted EPS $4.54

Where the figures came from

• 10-K filed 2026-03-19 · accession 0001437749-26-008956

Every one is public at sec.gov and free to check. That is the point — you should not have to take our word for any of it.

Caveats on this company

• DPS: declared $1.20 and paid $0.30 disagree; dividends paid imply $1.18, so declared is used

Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell us — that is more useful to us than agreement.

What the GAAP earnings payout ratio measures, and where every company here sits on it.