InterContinental Hotels Group PLC (NYSE:IHG – Get Free Report) declared a semi-annual dividend on Friday, March 15th, Wall Street Journal reports. Shareholders of record on Friday, April 5th will be given a dividend of 1.04 per share on Tuesday, May 14th. This represents a yield of 1.4%. The ex-dividend date is Thursday, April 4th. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.48.
InterContinental Hotels Group has increased its dividend by an average of 18.5% per year over the last three years. InterContinental Hotels Group has a payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect InterContinental Hotels Group to earn $4.63 per share next year, which means the company should continue to be able to cover its $0.97 annual dividend with an expected future payout ratio of 21.0%.
InterContinental Hotels Group Stock Down 1.3 %
NYSE:IHG opened at $103.59 on Wednesday. The company has a 50 day moving average price of $102.79 and a 200-day moving average price of $88.77. InterContinental Hotels Group has a 1-year low of $65.22 and a 1-year high of $112.08.
Analyst Upgrades and Downgrades
View Our Latest Report on InterContinental Hotels Group
Institutional Investors Weigh In On InterContinental Hotels Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blueshift Asset Management LLC purchased a new stake in InterContinental Hotels Group in the 2nd quarter worth $235,000. Rockefeller Capital Management L.P. boosted its stake in InterContinental Hotels Group by 571.5% during the 1st quarter. Rockefeller Capital Management L.P. now owns 3,505 shares of the company’s stock worth $233,000 after purchasing an additional 2,983 shares during the last quarter. XTX Topco Ltd acquired a new stake in InterContinental Hotels Group during the 1st quarter worth $222,000. Franklin Resources Inc. acquired a new stake in InterContinental Hotels Group during the 4th quarter worth $215,000. Finally, UBS Group AG boosted its stake in InterContinental Hotels Group by 38.2% during the 1st quarter. UBS Group AG now owns 3,101 shares of the company’s stock worth $213,000 after purchasing an additional 857 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.
InterContinental Hotels Group Company Profile
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.
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