Wpp Plc (NYSE:WPP) to Issue $0.51 Dividend

Wpp Plc (NYSE:WPP) announced a dividend on Thursday, February 26th. Stockholders of record on Friday, June 5th will be paid a dividend of 0.5079 per share by the business services provider on Monday, July 6th. This represents a dividend yield of 616.0%. The ex-dividend date is Friday, June 5th.

WPP has decreased its dividend payment by an average of 0.3%annually over the last three years. WPP has a dividend payout ratio of 17.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect WPP to earn $3.52 per share next year, which means the company should continue to be able to cover its $0.97 annual dividend with an expected future payout ratio of 27.6%.

WPP Price Performance

Shares of NYSE WPP opened at $18.85 on Wednesday. The firm has a 50-day simple moving average of $17.43 and a 200-day simple moving average of $19.05. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.48. WPP has a 52 week low of $14.81 and a 52 week high of $39.74.

Institutional Trading of WPP

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of WPP during the 1st quarter valued at approximately $1,619,000. Arrowstreet Capital Limited Partnership purchased a new stake in WPP in the first quarter valued at approximately $609,000. Sei Investments Co. raised its position in WPP by 115.7% in the first quarter. Sei Investments Co. now owns 48,528 shares of the business services provider’s stock valued at $755,000 after purchasing an additional 26,031 shares during the period. NewEdge Wealth LLC raised its position in WPP by 68.8% in the first quarter. NewEdge Wealth LLC now owns 26,640 shares of the business services provider’s stock valued at $414,000 after purchasing an additional 10,862 shares during the period. Finally, Barometer Capital Management Inc. purchased a new stake in WPP in the first quarter valued at approximately $535,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.

About WPP

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.