InterContinental Hotels Group (IHG) Declares $0.94 Dividend
InterContinental Hotels Group said on March 8, 2023 that its board of directors declared a regular semi-annual dividend of $0.94 per share ($1.89 annualized). Previously, the company paid $0.44 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on May 16, 2023.
At the current share price of $67.06 / share, the stock's dividend yield is 2.82%. Looking back five years and taking a sample every week, the average dividend yield has been 2.87%, the lowest has been 2.32%, and the highest has been 5.65%. The standard deviation of yields is 0.43 (n=236).
The current dividend yield is 0.12 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.80. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 11.16% Upside
As of March 9, 2023, the average one-year price target for InterContinental Hotels Group is $74.54. The forecasts range from a low of $62.00 to a high of $85.08. The average price target represents an increase of 11.16% from its latest reported closing price of $67.06.
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The projected annual revenue for InterContinental Hotels Group is $2,503MM, a decrease of 18.20%. The projected annual non-GAAP EPS is $3.37.
What is the Fund Sentiment?
There are 449 funds or institutions reporting positions in InterContinental Hotels Group. This is an increase of 32 owner(s) or 7.67% in the last quarter. Average portfolio weight of all funds dedicated to IHG is 0.23%, an increase of 1.88%. Total shares owned by institutions increased in the last three months by 0.84% to 29,899K shares.
What are Large Shareholders Doing?
VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 2,449K shares representing 1.40% ownership of the company. In it's prior filing, the firm reported owning 2,408K shares, representing an increase of 1.68%. The firm increased its portfolio allocation in IHG by 2.29% over the last quarter.
AEPGX - EUROPACIFIC GROWTH FUND holds 2,292K shares representing 1.31% ownership of the company. In it's prior filing, the firm reported owning 2,299K shares, representing a decrease of 0.31%. The firm increased its portfolio allocation in IHG by 9.36% over the last quarter.
CWGIX - CAPITAL WORLD GROWTH & INCOME FUND holds 2,099K shares representing 1.20% ownership of the company. No change in the last quarter.
FIGSX - Fidelity Series International Growth Fund holds 2,031K shares representing 1.16% ownership of the company. In it's prior filing, the firm reported owning 2,016K shares, representing an increase of 0.75%. The firm increased its portfolio allocation in IHG by 1.27% over the last quarter.
AMERICAN FUNDS INSURANCE SERIES - Growth-Income Fund Class 1 holds 1,397K shares representing 0.80% ownership of the company. No change in the last quarter.
Intercontinental Hotels Group Background Information
(This description is provided by the company.)
InterContinental Hotels Group PLC, marketed as IHG Hotels & Resorts, is a British multinational hospitality company headquartered in Denham, Buckinghamshire, England.
This story originally appeared on Fintel.