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

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

Diageo has raised its dividend payment 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. 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 Price Performance

NYSE DEO opened at $109.41 on Friday. 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 firm’s fifty day moving average price is $121.67 and its two-hundred day moving average price is $126.28. Diageo has a 1 year low of $105.72 and a 1 year high of $154.71.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. Finally, TD Cowen upped their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.