Intercontinental Hotels Group (IHG) To Go Ex-Dividend on August 21st

Intercontinental Hotels Group (NYSE:IHG) announced a dividend on Tuesday, August 11th. Investors of record on Friday, August 21st will be paid a dividend of 0.645 per share on Thursday, October 1st. This represents a yield of 83.0%. The ex-dividend date is Friday, August 21st.

Intercontinental Hotels Group has raised its dividend payment by an average of 0.1%per year over the last three years. Intercontinental Hotels Group has a dividend payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Intercontinental Hotels Group to earn $6.88 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 18.2%.

Intercontinental Hotels Group Stock Down 0.3%

IHG opened at $159.72 on Wednesday. Intercontinental Hotels Group has a 52-week low of $117.29 and a 52-week high of $175.89. The firm’s fifty day simple moving average is $163.58 and its two-hundred day simple moving average is $150.28.

Wall Street Analysts Forecast Growth

IHG has been the topic of a number of research analyst reports. Sanford C. Bernstein lifted their price target on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a research note on Friday, May 15th. Zacks Research downgraded Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Finally, Jefferies Financial Group lifted their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.50.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.