CRH plc (NYSE:CRH) to Issue Quarterly Dividend of $0.37

CRH plc (NYSE:CRH) announced a quarterly dividend on Wednesday, February 26th, NASDAQ Dividends reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.37 per share by the construction company on Wednesday, April 16th. This represents a $1.48 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, March 14th. This is a 60.9% increase from CRH’s previous quarterly dividend of $0.23.

CRH has a dividend payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CRH to earn $6.03 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 24.5%.

CRH Price Performance

Shares of NYSE:CRH opened at $94.83 on Wednesday. The company’s fifty day moving average price is $99.13 and its 200-day moving average price is $95.97. The firm has a market capitalization of $64.19 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.15 and a beta of 1.30. CRH has a one year low of $71.18 and a one year high of $110.97.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRH. Citigroup lowered their price target on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, Berenberg Bank set a $120.00 price objective on shares of CRH in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $109.25.

CRH Company Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.