Intercontinental Hotels Group Announces Semi-annual Dividend of $0.57 (NYSE:IHG)

Key Points

• Intercontinental Hotels Group announced a semi-annual dividend of $0.57, which will be paid to stockholders on October 2nd, with an ex-dividend date of August 22nd.
• The company has a dividend payout ratio of 41.0% and is expected to maintain its dividend with an anticipated earnings per share of $5.77 next year.
• Despite this positive financial news, IHG shares fell 3.6% during trading on the announcement date, reaching a price of $119.34.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) announced a semi-annual dividend on Friday, August 8th, Wall Street Journal reports. Stockholders of record on Friday, August 22nd will be given a dividend of 0.566 per share on Thursday, October 2nd. This represents a dividend yield of 140.0%. The ex-dividend date is Friday, August 22nd.

Intercontinental Hotels Group has a dividend payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 3.6%

Shares of IHG traded down $4.43 during trading on Friday, reaching $119.34. 308,397 shares of the company traded hands, compared to its average volume of 232,754. The stock has a 50-day simple moving average of $116.57 and a 200-day simple moving average of $117.44. Intercontinental Hotels Group has a twelve month low of $92.50 and a twelve month high of $137.25. The stock has a market cap of $18.44 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft raised Intercontinental Hotels Group from a "sell" rating to a "hold" rating in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company 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.

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