Wpp Plc (NYSE:WPP) to Issue $0.51 Dividend

Key Points

• WPP announced a $0.5052-per-share dividend, payable November 2 to investors of record on October 9; the company’s 17.7% payout ratio indicates the dividend is well covered by earnings.
• WPP shares opened at $25.88, up 25.6%, trading near their 52-week high of $27.50 and above both the 50-day and 200-day moving averages.
• Analyst sentiment remains mixed, with two Buy, three Hold and two Sell ratings, resulting in a consensus rating of Hold.

Wpp Plc (NYSE:WPP - Get Free Report) announced a dividend on Thursday, August 6th. Investors of record on Friday, October 9th will be paid a dividend of 0.5052 per share by the business services provider on Monday, November 2nd. This represents a yield of 390.0%. The ex-dividend date of this dividend is Friday, October 9th.

WPP has decreased its dividend payment by an average of 0.3%per year over the last three years. WPP has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Analysts expect WPP to earn $4.05 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 23.7%.

WPP Trading Up 25.6%

Shares of NYSE:WPP opened at $25.88 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.48. The business has a 50-day moving average of $18.52 and a two-hundred day moving average of $18.13. WPP has a fifty-two week low of $14.81 and a fifty-two week high of $27.50.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WPP. Citigroup reiterated a "neutral" rating on shares of WPP in a report on Thursday, April 30th. Berenberg Bank started coverage on shares of WPP in a research note on Tuesday, June 9th. They set a "buy" rating for the company. The Goldman Sachs Group started coverage on shares of WPP in a research note on Wednesday, June 3rd. They issued a "sell" rating for the company. Weiss Ratings restated a "sell (d)" rating on shares of WPP in a research note on Tuesday, June 16th. Finally, Rothschild & Co Redburn assumed coverage on shares of WPP in a report on Thursday, May 28th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, WPP presently has a consensus rating of "Hold".

About WPP

WPP plc NYSE: WPP is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world's largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.

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