InterContinental Hotels Group PLC (NYSE:IHG) Plans Semi-annual Dividend of $1.14

InterContinental Hotels Group PLC (NYSE:IHG) declared a semi-annual dividend on Friday, March 14th, Wall Street Journal reports. Investors of record on Friday, April 4th will be given a dividend of 1.144 per share on Thursday, May 15th. This represents a yield of 1.4%. The ex-dividend date of this dividend is Friday, April 4th. This is a 115.0% increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53.

InterContinental Hotels Group has a payout ratio of 18.9% 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 $1.06 annual dividend with an expected future payout ratio of 18.4%.

InterContinental Hotels Group Stock Performance

Shares of NYSE IHG traded up $2.30 during midday trading on Friday, hitting $113.69. 162,185 shares of the company’s stock traded hands, compared to its average volume of 169,670. The stock has a market capitalization of $17.98 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. The firm has a fifty day moving average of $127.85 and a 200 day moving average of $119.84. InterContinental Hotels Group has a 1 year low of $91.57 and a 1 year high of $137.25.

Analyst Ratings Changes

IHG has been the topic of several recent analyst reports. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley downgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Finally, Citigroup started coverage on InterContinental Hotels Group in a report on Monday, February 24th. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average 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.