ING Groep (NYSE:ING) Plans Dividend Increase – $0.65 Per Share

ING Groep (NYSE:ING) declared a semi-annual dividend on Tuesday, March 25th, Wall Street Journal reports. Shareholders of record on Friday, April 25th will be paid a dividend of 0.6526 per share by the financial services provider on Friday, May 9th. This represents a yield of 5.1%. The ex-dividend date is Friday, April 25th. This is a 291.5% increase from ING Groep’s previous semi-annual dividend of $0.17.

ING Groep has increased its dividend payment by an average of 19.7% per year over the last three years. ING Groep has a dividend payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ING Groep to earn $2.56 per share next year, which means the company should continue to be able to cover its $0.33 annual dividend with an expected future payout ratio of 12.9%.

ING Groep Price Performance

ING opened at $20.06 on Thursday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a 52-week low of $15.09 and a 52-week high of $20.79. The stock has a market capitalization of $70.16 billion, a P/E ratio of 9.37, a P/E/G ratio of 6.42 and a beta of 1.44. The company’s 50-day simple moving average is $17.94 and its two-hundred day simple moving average is $17.02.

ING Groep (NYSE:ING) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. As a group, analysts predict that ING Groep will post 2.14 EPS for the current year.

ING Groep Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.