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

Diageo plc (NYSE:DEO) announced a semi-annual dividend on Thursday, August 1st, Wall Street Journal reports. Stockholders of record on Friday, August 30th will be given a dividend of 1.62 per share on Thursday, October 17th. This represents a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 30th.

Diageo has raised its dividend by an average of 4.5% annually over the last three years. Diageo has a dividend payout ratio of 42.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Diageo to earn $7.32 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 44.3%.

Diageo Stock Up 0.5 %

DEO stock opened at $123.41 on Friday. Diageo has a twelve month low of $121.98 and a twelve month high of $175.06. The business has a 50 day simple moving average of $130.46 and a 200-day simple moving average of $139.57. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65.

Analyst Upgrades and Downgrades

DEO has been the subject of several analyst reports. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Diageo has a consensus rating of “Hold” and an average target price of $3,375.00.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.