InterContinental Hotels Group PLC (NYSE:IHG) Plans Dividend Increase – $1.14 Per Share

InterContinental Hotels Group PLC (NYSE:IHG) announced a semi-annual dividend on Thursday, March 13th, Wall Street Journal reports. Investors 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 18.9% meaning its dividend is sufficiently covered by earnings. 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 $1.06 annual dividend with an expected future payout ratio of 18.4%.

InterContinental Hotels Group Stock Up 2.1 %

Shares of InterContinental Hotels Group stock opened at $113.69 on Friday. The firm has a market cap of $17.98 billion, a PE ratio of 20.16, a P/E/G ratio of 1.69 and a beta of 1.33. The business has a 50-day moving average price of $127.42 and a 200 day moving average price of $119.88. InterContinental Hotels Group has a twelve month low of $91.57 and a twelve month high of $137.25.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IHG shares. Citigroup began coverage on shares of InterContinental Hotels Group in a research note on Monday, February 24th. They issued a “sell” rating for the company. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Finally, Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About InterContinental Hotels Group

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.