WPP plc (NYSE:WPP) Announces Dividend Increase – $0.97 Per Share

WPP plc (NYSE:WPP) declared a semi-annual dividend on Friday, February 28th, Wall Street Journal reports. Stockholders of record on Friday, June 6th will be given a dividend of 0.9728 per share by the business services provider on Friday, July 4th. This represents a dividend yield of 6.2%. The ex-dividend date is Friday, June 6th. This is a boost from WPP’s previous semi-annual dividend of $0.95.

WPP has raised its dividend payment by an average of 11.1% per year over the last three years. WPP has a dividend payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect WPP to earn $5.44 per share next year, which means the company should continue to be able to cover its $1.95 annual dividend with an expected future payout ratio of 35.8%.

WPP Trading Down 1.2 %

NYSE WPP traded down $0.50 on Friday, reaching $40.56. 1,023,998 shares of the stock were exchanged, compared to its average volume of 225,300. The firm has a market capitalization of $8.75 billion, a PE ratio of 6.79, a PEG ratio of 7.06 and a beta of 1.25. WPP has a one year low of $40.14 and a one year high of $57.37. The company’s 50-day simple moving average is $47.92 and its two-hundred day simple moving average is $50.00.

Analyst Ratings Changes

Several equities analysts have recently commented on WPP shares. Barclays downgraded WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday. Kepler Capital Markets raised WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Finally, StockNews.com lowered shares of WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

About WPP

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.