ING Groep to Issue Semi-annual Dividend of $0.17 (NYSE:ING)

ING Groep (NYSE:ING) announced a semi-annual dividend on Monday, January 6th,Wall Street Journal reports. Shareholders of record on Monday, January 13th will be given a dividend of 0.1667 per share by the financial services provider on Thursday, January 23rd. This represents a yield of 6.4%. The ex-dividend date of this dividend is Monday, January 13th.

ING Groep has a payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ING Groep to earn $2.14 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 35.5%.

ING Groep Stock Performance

NYSE ING opened at $15.81 on Tuesday. The firm has a 50-day moving average price of $15.76 and a two-hundred day moving average price of $17.01. ING Groep has a 12-month low of $12.77 and a 12-month high of $18.72. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $55.31 billion, a P/E ratio of 7.09, a P/E/G ratio of 5.97 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ING. Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Barclays cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th. Finally, Citigroup raised shares of ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.