WPP plc (NYSE:WPP) Declares Semi-annual Dividend of $0.97

WPP plc (NYSE:WPP) declared a semi-annual dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Friday, June 6th will be paid 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 an increase 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. 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 Price Performance

Shares of WPP stock traded down $0.50 on Friday, reaching $40.56. The company had a trading volume of 1,023,998 shares, compared to its average volume of 225,300. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 6.79, a P/E/G ratio of 7.06 and a beta of 1.25. The firm’s 50-day moving average price is $47.92 and its two-hundred day moving average price is $50.00. WPP has a 1 year low of $40.14 and a 1 year high of $57.37.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. StockNews.com downgraded shares of WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Finally, Barclays lowered shares of WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday.

WPP Company Profile

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.