Rentokil Initial plc (NYSE:RTO) Plans Dividend Increase – $0.38 Per Share

Rentokil Initial plc (NYSE:RTOGet Free Report) declared a semi-annual dividend on Thursday, March 14th, Wall Street Journal reports. Investors of record on Friday, April 5th will be given a dividend of 0.3784 per share on Tuesday, May 28th. This represents a yield of 1.6%. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from Rentokil Initial’s previous semi-annual dividend of $0.18.

Rentokil Initial has a dividend payout ratio of 44.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rentokil Initial to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 51.0%.

Rentokil Initial Price Performance

RTO opened at $30.20 on Wednesday. Rentokil Initial has a fifty-two week low of $23.39 and a fifty-two week high of $41.55. The company’s 50 day moving average price is $28.26 and its two-hundred day moving average price is $29.14.

Institutional Investors Weigh In On Rentokil Initial

A number of institutional investors have recently modified their holdings of RTO. NFJ Investment Group LLC acquired a new position in shares of Rentokil Initial during the 4th quarter valued at $864,000. Voloridge Investment Management LLC raised its holdings in Rentokil Initial by 384.6% during the fourth quarter. Voloridge Investment Management LLC now owns 262,228 shares of the company’s stock worth $7,502,000 after buying an additional 208,112 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Rentokil Initial during the fourth quarter worth $844,000. Royal Bank of Canada raised its holdings in Rentokil Initial by 4.1% during the fourth quarter. Royal Bank of Canada now owns 56,959 shares of the company’s stock worth $1,629,000 after buying an additional 2,267 shares during the last quarter. Finally, Pathstone Holdings LLC acquired a new position in Rentokil Initial during the fourth quarter worth $214,000. 9.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Bank of America lowered shares of Rentokil Initial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $29.00 in a research note on Wednesday, January 24th. BNP Paribas raised shares of Rentokil Initial from a “neutral” rating to an “outperform” rating in a research note on Monday, March 18th.

View Our Latest Stock Report on RTO

About Rentokil Initial

(Get Free Report)

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.

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