Wpp Plc (NYSE:WPP) Plans Dividend of $0.51

Wpp Plc (NYSE:WPP) declared a dividend on Thursday, February 26th. Investors of record on Friday, June 5th will be given 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 by an average of 0.3%annually over the last three years. WPP has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 1.9%

NYSE WPP opened at $18.85 on Wednesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s fifty day moving average price is $17.43 and its 200 day moving average price is $19.05. WPP has a 1 year low of $14.81 and a 1 year high of $39.74.

Institutional Investors Weigh In On WPP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WPP. Mondrian Investment Partners LTD acquired a new stake in WPP during the 3rd quarter worth about $79,947,000. Bank of Montreal Can grew its position in WPP by 385.3% during the 4th quarter. Bank of Montreal Can now owns 451,182 shares of the business services provider’s stock worth $10,134,000 after purchasing an additional 358,218 shares during the period. Balyasny Asset Management L.P. grew its position in WPP by 1,082.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock worth $5,714,000 after purchasing an additional 232,878 shares during the period. ABC Arbitrage SA acquired a new stake in WPP during the 4th quarter worth about $5,199,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of WPP by 3,840.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock worth $3,058,000 after acquiring an additional 132,680 shares in the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.

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.