Diageo plc (NYSE:DEO) declared a semiannual dividend on Friday, January 26th, Wall Street Journal reports. Stockholders of record on Friday, February 23rd will be given a dividend of 1.4232 per share on Wednesday, April 11th. This represents a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, February 22nd.
Diageo has decreased its dividend payment by an average of 1.9% annually over the last three years and has increased its dividend every year for the last 6 years. Diageo has a payout ratio of 64.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Diageo to earn $7.06 per share next year, which means the company should continue to be able to cover its $4.02 annual dividend with an expected future payout ratio of 56.9%.
Diageo (NYSE:DEO) opened at $139.03 on Wednesday. Diageo has a one year low of $110.92 and a one year high of $147.62. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.31.
A number of equities analysts have recently weighed in on the stock. Jefferies Group set a $157.00 price target on shares of Diageo and gave the stock a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research raised shares of Diageo from a “hold” rating to a “buy” rating and set a $162.00 price target on the stock in a research note on Wednesday, January 10th. BNP Paribas downgraded shares of Diageo from an “outperform” rating to a “neutral” rating in a research note on Monday, January 29th. Macquarie raised shares of Diageo from an “underperform” rating to a “neutral” rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada downgraded shares of Diageo from an “outperform” rating to a “sector perform” rating in a research note on Monday, January 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $153.75.
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Diageo Company Profile
Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.
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