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

Diageo plc (NYSE:DEO) declared a semi-annual dividend on Wednesday, February 12th, Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 1.62 per share on Thursday, April 24th. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th.

Diageo has raised its dividend by an average of 1.5% per year over the last three years. Diageo has a dividend payout ratio of 47.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Diageo to earn $6.81 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 47.6%.

Diageo Price Performance

Shares of NYSE DEO opened at $110.07 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The stock has a market cap of $61.23 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 2.39 and a beta of 0.66. The company’s 50-day moving average price is $118.39 and its 200 day moving average price is $125.33. Diageo has a 52 week low of $105.72 and a 52 week high of $154.71.

Analysts Set New Price Targets

DEO has been the subject of a number of recent research reports. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. TD Cowen raised their price target on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $129.00.

About Diageo

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.