Intercontinental Hotels Group (IHG) to Issue Dividend of $0.65 on October 1st

Intercontinental Hotels Group (NYSE:IHG) declared a dividend on Tuesday, August 11th. Shareholders of record on Friday, August 21st will be given a dividend of 0.645 per share on Thursday, October 1st. This represents a yield of 83.0%. The ex-dividend date of this dividend is Friday, August 21st.

Intercontinental Hotels Group has increased its dividend payment by an average of 0.1%per year over the last three years. Intercontinental Hotels Group has a payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Intercontinental Hotels Group to earn $6.80 per share next year, which means the company should continue to be able to cover its $2.43 annual dividend with an expected future payout ratio of 35.7%.

Intercontinental Hotels Group Price Performance

Intercontinental Hotels Group stock opened at $161.86 on Thursday. The firm has a 50 day simple moving average of $163.78 and a 200-day simple moving average of $149.62. Intercontinental Hotels Group has a 1-year low of $117.29 and a 1-year high of $175.89.

Wall Street Analyst Weigh In

IHG has been the subject of several analyst reports. Sanford C. Bernstein increased their price objective on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a research report on Friday, May 15th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Tuesday, May 26th. Zacks Research downgraded Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group boosted their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Intercontinental Hotels Group currently has an average rating of “Moderate Buy” and a consensus price target of $174.50.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.