ING Groep (NYSE:ING) Announces Dividend Increase – $0.70 Per Share

ING Groep (NYSE:ING) announced a Semi-Annual dividend on Thursday, March 7th, Zacks reports. Investors of record on Thursday, April 25th will be paid a dividend of 0.697 per share by the financial services provider on Friday, May 10th. This represents a yield of 6.8%. The ex-dividend date is Wednesday, April 24th. This is a positive change from ING Groep’s previous Semi-Annual dividend of $0.43.

ING Groep has a dividend payout ratio of 75.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect ING Groep to earn $2.11 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 77.7%.

ING Groep Stock Up 1.3 %

Shares of NYSE ING opened at $16.41 on Tuesday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $61.13 billion, a P/E ratio of 7.42 and a beta of 1.58. ING Groep has a 1 year low of $11.78 and a 1 year high of $17.18. The firm’s 50 day moving average price is $15.22 and its 200 day moving average price is $14.33.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $6.15 billion. ING Groep had a return on equity of 13.36% and a net margin of 32.29%. As a group, sell-side analysts anticipate that ING Groep will post 1.91 earnings per share for the current year.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.