InterContinental Hotels Group PLC (NYSE:IHG) Raises Dividend to $1.14 Per Share

InterContinental Hotels Group PLC (NYSE:IHG - Get Free Report) announced a semi-annual dividend on Thursday, March 13th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be paid a dividend of 1.144 per share on Thursday, May 15th. This represents a yield of 1.4%. The ex-dividend date is Friday, April 4th. This is a 115.0% increase from InterContinental Hotels Group's previous semi-annual dividend of $0.53.

InterContinental Hotels Group has a payout ratio of 40.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect InterContinental Hotels Group to earn $5.77 per share next year, which means the company should continue to be able to cover its $2.29 annual dividend with an expected future payout ratio of 39.7%.

InterContinental Hotels Group Trading Down 2.0 %

InterContinental Hotels Group stock traded down $2.24 during trading hours on Tuesday, reaching $112.17. 157,797 shares of the company were exchanged, compared to its average volume of 169,325. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.69 and a beta of 1.33. The stock has a 50-day moving average of $127.26 and a 200 day moving average of $120.27. InterContinental Hotels Group has a 12 month low of $91.57 and a 12 month high of $137.25.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein raised InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a research report on Friday, January 10th. Citigroup assumed coverage on InterContinental Hotels Group in a research report on Monday, February 24th. They issued a "sell" rating for the company. Finally, Morgan Stanley cut InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Remove Ads

InterContinental Hotels Group Company Profile

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.