WM Morrison Supermarkets PLC (MRW) Announces Dividend Increase – GBX 8.75 Per Share

WM Morrison Supermarkets PLC (LON:MRW) announced a dividend on Wednesday, March 13th, Upcoming.Co.Uk reports. Investors of record on Thursday, May 23rd will be paid a dividend of GBX 8.75 ($0.11) per share by the grocer on Monday, July 1st. This represents a yield of 3.86%. The ex-dividend date of this dividend is Thursday, May 23rd. This is an increase from WM Morrison Supermarkets’s previous dividend of $3.85. The official announcement can be viewed at this link.

Shares of MRW opened at GBX 211.80 ($2.77) on Wednesday. The firm has a market capitalization of $5.05 billion and a P/E ratio of 20.97. WM Morrison Supermarkets has a 52-week low of GBX 208.60 ($2.73) and a 52-week high of GBX 270.50 ($3.53). The company has a quick ratio of 0.14, a current ratio of 0.42 and a debt-to-equity ratio of 27.96.

Several analysts have recently weighed in on the company. Barclays decreased their target price on WM Morrison Supermarkets from GBX 225 ($2.94) to GBX 205 ($2.68) and set an “underweight” rating for the company in a research report on Friday, March 22nd. Deutsche Bank restated a “hold” rating on shares of WM Morrison Supermarkets in a research note on Monday, April 1st. Sanford C. Bernstein lowered WM Morrison Supermarkets to a “market perform” rating and cut their price target for the company from GBX 280 ($3.66) to GBX 240 ($3.14) in a research note on Thursday, March 28th. Berenberg Bank cut their price target on WM Morrison Supermarkets from GBX 285 ($3.72) to GBX 265 ($3.46) and set a “buy” rating on the stock in a research note on Thursday, February 21st. Finally, Citigroup restated a “neutral” rating on shares of WM Morrison Supermarkets in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. WM Morrison Supermarkets presently has an average rating of “Hold” and a consensus price target of GBX 249.09 ($3.25).

In other WM Morrison Supermarkets news, insider Trevor Strain sold 200,000 shares of WM Morrison Supermarkets stock in a transaction dated Monday, May 13th. The stock was sold at an average price of GBX 213 ($2.78), for a total value of £426,000 ($556,644.45).

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WM Morrison Supermarkets Company Profile

Wm Morrison Supermarkets PLC operates retail super stores under the Morrisons brand name in the United Kingdom. The company is involved in in-store and online grocery retailing activities. It also manufactures and distributes fresh food, and morning goods and bread; prepares and supplies seafood; processes fresh meat; invests in, develops, and maintains properties; and offers insurance and leasing services, as well as holds pharmaceutical license.

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Dividend History for WM Morrison Supermarkets (LON:MRW)

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