WPP plc (WPP) to Issue Semi-annual Dividend of $1.25 on July 8th

WPP plc (NYSE:WPPGet Rating) declared a semi-annual dividend on Monday, February 28th, Wall Street Journal reports. Investors of record on Friday, June 10th will be given a dividend of 1.2505 per share by the business services provider on Friday, July 8th. This represents a yield of 3%. The ex-dividend date is Thursday, June 9th. This is an increase from WPP’s previous semi-annual dividend of $0.87.

WPP has a payout ratio of 38.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect WPP to earn $6.01 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 41.6%.

NYSE WPP opened at $58.73 on Tuesday. WPP has a twelve month low of $54.62 and a twelve month high of $83.69. The business has a 50-day moving average price of $61.92 and a 200-day moving average price of $69.93.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of WPP by 6.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 9,979 shares of the business services provider’s stock worth $670,000 after buying an additional 571 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in WPP during the 4th quarter valued at about $635,000. NewEdge Advisors LLC raised its stake in WPP by 128.4% in the fourth quarter. NewEdge Advisors LLC now owns 8,258 shares of the business services provider’s stock valued at $624,000 after buying an additional 4,643 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of WPP by 34.1% during the fourth quarter. Guggenheim Capital LLC now owns 5,705 shares of the business services provider’s stock worth $431,000 after acquiring an additional 1,450 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of WPP by 12.4% during the first quarter. Citigroup Inc. now owns 6,060 shares of the business services provider’s stock valued at $397,000 after acquiring an additional 668 shares in the last quarter. 4.07% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on WPP. Morgan Stanley lowered shares of WPP from an “equal weight” rating to an “underweight” rating in a research report on Monday, May 23rd. JPMorgan Chase & Co. lifted their target price on WPP from GBX 1,280 ($16.04) to GBX 1,330 ($16.67) in a report on Thursday, April 28th. Zacks Investment Research upgraded WPP from a “sell” rating to a “hold” rating in a research report on Thursday, May 19th. Credit Suisse Group lifted their price objective on WPP from GBX 1,200 ($15.04) to GBX 1,210 ($15.16) in a research note on Thursday, April 28th. Finally, Berenberg Bank increased their target price on WPP from GBX 1,185 ($14.85) to GBX 1,230 ($15.41) in a research report on Friday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $787.00.

WPP Company Profile (Get Rating)

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.

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Dividend History for WPP (NYSE:WPP)

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