Wpp Plc (WPP) To Go Ex-Dividend on October 9th

Wpp Plc (NYSE:WPP) announced a dividend on Thursday, August 6th. Shareholders of record on Friday, October 9th will be paid a dividend of 0.5052 per share by the business services provider on Monday, November 2nd. This represents a yield of 390.0%. The ex-dividend date of this dividend is Friday, October 9th.

WPP has decreased its dividend by an average of 0.3%annually over the last three years. WPP has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Analysts expect WPP to earn $4.05 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 23.7%.

WPP Trading Up 6.3%

WPP stock opened at $27.57 on Friday. WPP has a 12 month low of $14.81 and a 12 month high of $27.78. The stock has a fifty day simple moving average of $18.70 and a two-hundred day simple moving average of $18.19. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89.

Institutional Investors Weigh In On WPP

Several institutional investors have recently modified their holdings of WPP. Jane Street Group LLC increased its position in shares of WPP by 49.0% during the 1st quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock valued at $2,523,000 after purchasing an additional 21,866 shares during the last quarter. Cetera Investment Advisers lifted its position in WPP by 9.2% in the second quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock worth $272,000 after buying an additional 654 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in WPP by 58.3% during the second quarter. JPMorgan Chase & Co. now owns 6,397 shares of the business services provider’s stock worth $224,000 after buying an additional 2,355 shares during the period. Russell Investments Group Ltd. increased its position in WPP by 99.4% during the second quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in WPP during the second quarter valued at $407,000. 4.34% of the stock is owned by institutional investors.

About WPP

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.