SSE plc (LON:SSE) Announces Dividend Increase – GBX 60.20 Per Share

SSE plc (LON:SSEGet Rating) announced a dividend on Wednesday, May 25th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, July 28th will be given a dividend of GBX 60.20 ($0.76) per share on Thursday, September 22nd. This represents a dividend yield of 3.26%. The ex-dividend date is Thursday, July 28th. This is a boost from SSE’s previous dividend of $25.50. The official announcement can be seen at this link.

Shares of SSE stock opened at GBX 1,744.66 ($21.95) on Friday. SSE has a twelve month low of GBX 1,445.50 ($18.19) and a twelve month high of GBX 1,935.50 ($24.36). The company has a debt-to-equity ratio of 135.61, a quick ratio of 0.34 and a current ratio of 0.72. The firm has a market cap of £18.63 billion and a P/E ratio of 7.05. The firm’s 50-day simple moving average is GBX 1,800.31 and its 200-day simple moving average is GBX 1,675.64.

A number of equities analysts have commented on the company. Citigroup raised SSE to a “buy” rating and set a GBX 1,829 ($23.01) price objective on the stock in a research note on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 2,000 ($25.17) target price on shares of SSE in a report on Thursday. Berenberg Bank upgraded SSE to a “buy” rating and lifted their target price for the stock from GBX 1,690 ($21.27) to GBX 2,200 ($27.68) in a report on Wednesday, May 11th. Morgan Stanley reiterated an “overweight” rating on shares of SSE in a report on Wednesday, May 11th. Finally, Barclays reissued an “overweight” rating and issued a GBX 2,000 ($25.17) price objective on shares of SSE in a research report on Monday, February 21st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, SSE presently has a consensus rating of “Buy” and a consensus target price of GBX 1,823 ($22.94).

In other SSE news, insider Angela Strank bought 483 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were purchased at an average price of GBX 1,849 ($23.27) per share, for a total transaction of £8,930.67 ($11,237.79).

SSE Company Profile (Get Rating)

SSE plc engages in the generation, transmission, distribution, and supply of electricity. It generates electricity from water, gas, coal, oil, and multi fuel. The company distributes electricity to approximately 3.8 million homes and businesses across the north of the central belt of Scotland and central southern England; and owns, operates and, develops high voltage electricity transmission system in the north of Scotland and remote islands.

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Dividend History for SSE (LON:SSE)

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