Diageo plc Announces Semi-annual Dividend of $1.62 (NYSE:DEO)

Diageo plc (NYSE:DEO) announced a semi-annual dividend on Thursday, February 13th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 1.62 per share on Thursday, April 24th. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th.

Diageo has raised its dividend by an average of 1.5% annually over the last three years. Diageo has a dividend payout ratio of 72.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Diageo to earn $6.91 per share next year, which means the company should continue to be able to cover its $5.04 annual dividend with an expected future payout ratio of 72.9%.

Diageo Stock Performance

Shares of NYSE:DEO traded up $2.99 during midday trading on Thursday, reaching $109.41. The company had a trading volume of 1,439,449 shares, compared to its average volume of 1,128,628. The company has a quick ratio of 0.55, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The stock’s fifty day moving average price is $121.67 and its 200-day moving average price is $126.28. Diageo has a one year low of $105.72 and a one year high of $154.71.

Analyst Ratings Changes

Several analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Diageo presently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.