WPP plc (NYSE:WPP) Raises Dividend to $0.97 Per Share

WPP plc (NYSE:WPP) announced 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 yield of 6.2%. The ex-dividend date of this dividend 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 payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of WPP opened at $40.56 on Friday. The stock has a 50 day moving average price of $47.69 and a two-hundred day moving average price of $50.02. The firm has a market capitalization of $8.75 billion, a P/E ratio of 6.79, a P/E/G ratio of 7.06 and a beta of 1.25. WPP has a 52 week low of $40.14 and a 52 week high of $57.37.

Analyst Ratings Changes

A number of brokerages have commented on WPP. Kepler Capital Markets raised WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Finally, Barclays lowered WPP from an “overweight” rating to an “equal weight” rating in a report on Friday.

About WPP

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.