Diageo plc (LON:DGE) Increases Dividend to GBX 20.75 Per Share

Diageo plc (LON:DGE) announced a dividend on Tuesday, March 18th, Upcoming Dividends.Co.Uk reports. Shareholders of record on Thursday, March 20th will be given a dividend of GBX 20.75 ($0.27) per share on Thursday, March 27th. This represents a yield of 3.66%. The ex-dividend date of this dividend is Thursday, March 20th. This is a 3,194.7% increase from Diageo’s previous dividend of $0.63. The official announcement can be viewed at this link.

Diageo Stock Performance

Shares of LON:DGE traded down GBX 2 ($0.03) during midday trading on Tuesday, reaching GBX 2,078.50 ($27.02). 2,147,000,000 shares of the company’s stock traded hands, compared to its average volume of 43,667,500. Diageo has a 1 year low of GBX 2,050 ($26.65) and a 1 year high of GBX 2,955.50 ($38.42). The stock has a market cap of £46.14 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.75 and a beta of 0.36. The company has a debt-to-equity ratio of 234.57, a quick ratio of 0.62 and a current ratio of 1.94. The company has a fifty day simple moving average of GBX 2,273.98.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DGE shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a GBX 2,500 ($32.50) target price on shares of Diageo in a research note on Tuesday, January 7th. Jefferies Financial Group upgraded Diageo to a “buy” rating and set a GBX 2,800 ($36.40) target price for the company in a research note on Friday, December 6th. Finally, UBS Group raised Diageo to a “buy” rating and lifted their price target for the stock from GBX 2,300 ($29.90) to GBX 2,920 ($37.96) in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Diageo presently has an average rating of “Hold” and a consensus target price of GBX 2,876.67 ($37.40).

Insider Transactions at Diageo

In other Diageo news, insider Nik Jhangiani sold 65,676 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of GBX 2,165 ($28.15), for a total value of £1,421,885.40 ($1,848,524.96). In the last quarter, insiders purchased 19 shares of company stock worth $43,455. 0.11% of the stock is owned by corporate insiders.

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.