ING Groep (NYSE:ING) Declares Semi-annual Dividend of $0.65

ING Groep (NYSE:ING) announced a semi-annual dividend on Tuesday, March 25th, Wall Street Journal reports. Stockholders of record on Friday, April 25th will be paid a dividend of 0.6526 per share by the financial services provider on Friday, May 9th. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, April 25th. This is a 291.5% increase from ING Groep’s previous semi-annual dividend of $0.17.

ING Groep has raised its dividend payment by an average of 19.7% per year over the last three years. ING Groep has a payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect ING Groep to earn $2.56 per share next year, which means the company should continue to be able to cover its $0.33 annual dividend with an expected future payout ratio of 12.9%.

ING Groep Stock Performance

ING Groep stock traded down $0.23 during mid-day trading on Wednesday, reaching $20.06. The company had a trading volume of 2,618,425 shares, compared to its average volume of 2,268,652. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The firm has a market cap of $70.16 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 6.42 and a beta of 1.44. The company has a 50 day moving average of $17.87 and a 200-day moving average of $17.00. ING Groep has a 52 week low of $15.09 and a 52 week high of $20.79.

ING Groep (NYSE:ING) last released its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. On average, sell-side analysts expect that ING Groep will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

ING Groep Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.