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

Wpp Plc (NYSE:WPP) declared a dividend on Thursday, August 6th. Shareholders of record on Friday, October 9th will be paid a dividend of 0.5052 per share by the business services provider on Monday, November 2nd. This represents a yield of 390.0%. The ex-dividend date of this dividend is Friday, October 9th.

WPP has decreased its dividend by an average of 0.3%per year over the last three years. WPP has a dividend payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect WPP to earn $4.05 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 23.7%.

WPP Trading Up 25.6%

Shares of NYSE:WPP opened at $25.88 on Friday. WPP has a 52 week low of $14.81 and a 52 week high of $27.50. The company’s fifty day moving average is $18.52 and its 200-day moving average is $18.13. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

Institutional Investors Weigh In On WPP

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of WPP during the third quarter valued at $28,000. Global Retirement Partners LLC boosted its holdings in WPP by 1,279.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 1,689 shares during the last quarter. Farther Finance Advisors LLC increased its position in WPP by 184.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,225 shares during the period. Osaic Holdings Inc. raised its holdings in WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after purchasing an additional 717 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in WPP by 455.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 1,901 shares during the period. 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.