Diageo plc (DEO) To Go Ex-Dividend on August 30th

Diageo plc (NYSE:DEO) declared a semi-annual dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Friday, August 30th will be paid a dividend of 1.62 per share on Thursday, October 17th. This represents a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 30th.

Diageo has increased its dividend by an average of 4.5% per year over the last three years. Diageo has a dividend payout ratio of 42.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Diageo to earn $7.32 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 44.3%.

Diageo Stock Up 0.5 %

Shares of DEO stock opened at $123.41 on Friday. The stock has a 50 day moving average of $130.46 and a 200 day moving average of $139.57. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. Diageo has a twelve month low of $121.98 and a twelve month high of $175.06.

Analysts Set New Price Targets

Several brokerages recently weighed in on DEO. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3,375.00.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.