Ashtead Group PLC (OTCMKTS:ASHTY) Raises Dividend to $2.81 Per Share

Key Points

• Ashtead Group PLC announced a dividend increase to $2.81 per share, reflecting a 95.1% increase from the previous dividend of $1.44.
• The stock will go ex-dividend on August 8th, with shareholders of record set to receive the payment on September 25th.
• Despite the dividend increase, Ashtead Group's stock was down 0.7% following an analyst downgrade from "moderate buy" to "hold".

Ashtead Group PLC (OTCMKTS:ASHTY - Get Free Report) announced a dividend on Friday, August 1st, investing.com reports. Shareholders of record on Monday, August 11th will be paid a dividend of 2.81 per share on Thursday, September 25th. This represents a yield of 155.0%. The ex-dividend date is Friday, August 8th. This is a 95.1% increase from Ashtead Group's previous dividend of $1.44.

Ashtead Group Trading Down 0.7%

Shares of OTCMKTS ASHTY opened at $271.25 on Friday. Ashtead Group has a one year low of $186.01 and a one year high of $337.95. The firm has a market capitalization of $28.92 billion, a PE ratio of 19.61, a PEG ratio of 1.44 and a beta of 1.67. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average price of $250.97 and a two-hundred day moving average price of $241.36.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lowered Ashtead Group from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy".

About Ashtead Group

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.

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