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

WPP plc (NYSE:WPP) announced a semi-annual dividend on Friday, February 28th, Wall Street Journal reports. Stockholders of record on Friday, June 6th will be given 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 a positive change 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 Stock Performance

Shares of WPP traded down $0.50 during mid-day trading on Friday, reaching $40.56. 1,023,998 shares of the company’s stock traded hands, compared to its average volume of 225,300. The business’s 50-day moving average price is $47.69 and its 200-day moving average price is $49.98. The stock has a market capitalization of $8.75 billion, a P/E ratio of 6.79, a price-to-earnings-growth ratio of 7.06 and a beta of 1.25. WPP has a 12 month low of $40.14 and a 12 month high of $57.37.

Wall Street Analysts Forecast Growth

WPP has been the topic of several recent analyst reports. Barclays cut WPP from an “overweight” rating to an “equal weight” rating in a report on Friday. Kepler Capital Markets raised WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Finally, StockNews.com cut WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

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.