Intercontinental Hotels Group (IHG) Declares Special Dividend of $0.33

Intercontinental Hotels Group (NYSE:IHG) announced a special dividend on Wednesday, August 9th, Wall Street Journal reports. Investors of record on Friday, September 1st will be given a dividend of 0.33 per share on Friday, October 6th. The ex-dividend date is Wednesday, August 30th.

Intercontinental Hotels Group has increased its dividend payment by an average of 5.3% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Intercontinental Hotels Group has a payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Intercontinental Hotels Group to earn $2.52 per share next year, which means the company should continue to be able to cover its $0.65 annual dividend with an expected future payout ratio of 25.8%.

Intercontinental Hotels Group (IHG) traded down 1.00% during midday trading on Friday, reaching $50.52. The company had a trading volume of 88,046 shares. Intercontinental Hotels Group has a 52-week low of $39.84 and a 52-week high of $57.80. The company’s 50 day moving average is $55.10 and its 200-day moving average is $53.22. The company has a market capitalization of $9.90 billion, a P/E ratio of 22.65 and a beta of 1.34.

IHG has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, May 9th. Bank of America Corporation restated a “buy” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, July 25th. Morgan Stanley downgraded shares of Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 15th. Credit Suisse Group downgraded shares of Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Intercontinental Hotels Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $50.33.

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Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

Dividend History for Intercontinental Hotels Group (NYSE:IHG)

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