ICICI Bank Limited (NYSE:IBN) to Issue Annual Dividend of $0.20

ICICI Bank Limited (NYSE:IBN) announced an annual dividend on Wednesday, August 7th, Wall Street Journal reports. Shareholders of record on Friday, January 1st will be paid a dividend of 0.2028 per share by the bank on Monday, August 12th. This represents a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 12th. This is a positive change from ICICI Bank’s previous annual dividend of $0.11.

ICICI Bank has a dividend payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect ICICI Bank to earn $1.73 per share next year, which means the company should continue to be able to cover its $0.19 annual dividend with an expected future payout ratio of 11.0%.

ICICI Bank Price Performance

IBN traded down $0.06 during trading on Wednesday, hitting $27.78. The company’s stock had a trading volume of 3,726,023 shares, compared to its average volume of 5,565,978. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72. ICICI Bank has a twelve month low of $21.89 and a twelve month high of $29.66. The business’s fifty day simple moving average is $28.13 and its 200 day simple moving average is $26.68. The firm has a market capitalization of $97.73 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.32 and a beta of 1.04.

ICICI Bank Company Profile

ICICI Bank Limited provides various banking products and services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and time, fixed, recurring, and security deposits services.