InterContinental Hotels Group PLC (IHG) to Issue Semi-annual Dividend of $1.14 on May 15th

InterContinental Hotels Group PLC (NYSE:IHG) announced a semi-annual dividend on Thursday, March 13th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be paid a dividend of 1.144 per share on Thursday, May 15th. This represents a yield of 1.4%. The ex-dividend date is Friday, April 4th. This is a 115.0% increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53.

InterContinental Hotels Group has a payout ratio of 40.8% meaning its dividend is sufficiently covered by earnings. Analysts expect InterContinental Hotels Group to earn $5.77 per share next year, which means the company should continue to be able to cover its $2.29 annual dividend with an expected future payout ratio of 39.7%.

InterContinental Hotels Group Stock Down 0.2 %

Shares of IHG opened at $109.39 on Wednesday. The stock has a market capitalization of $17.20 billion, a P/E ratio of 19.39, a PEG ratio of 1.69 and a beta of 1.33. InterContinental Hotels Group has a twelve month low of $91.57 and a twelve month high of $137.25. The firm has a fifty day simple moving average of $124.29 and a two-hundred day simple moving average of $121.08.

Analysts Set New Price Targets

IHG has been the subject of a number of analyst reports. Morgan Stanley lowered shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Citigroup started coverage on shares of InterContinental Hotels Group in a report on Monday, February 24th. They issued a “sell” rating on the stock. Finally, Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, InterContinental Hotels Group currently has a consensus rating of “Hold”.

InterContinental Hotels Group Company Profile

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.