ING Groep (NYSE:ING) Raises Dividend to $0.81 Per Share

ING Groep (NYSE:ING) declared a semi-annual dividend on Friday, August 2nd, Wall Street Journal reports. Shareholders of record on Thursday, August 8th will be given a dividend of 0.8143 per share by the financial services provider on Monday, August 19th. This represents a yield of 5.9%. The ex-dividend date is Thursday, August 8th. This is an increase from ING Groep’s previous semi-annual dividend of $0.70.

ING Groep has a dividend payout ratio of 73.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ING Groep to earn $2.19 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 74.9%.

ING Groep Price Performance

Shares of NYSE:ING traded down $0.13 on Friday, hitting $17.09. The company had a trading volume of 3,013,184 shares, compared to its average volume of 2,597,609. The business has a 50 day moving average of $17.68 and a 200 day moving average of $16.14. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.66. The company has a market cap of $59.78 billion, a PE ratio of 7.55 and a beta of 1.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. The business had revenue of $6.15 billion during the quarter. During the same period in the prior year, the firm earned $0.65 EPS. As a group, equities analysts anticipate that ING Groep will post 2.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded ING Groep from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 7th.

About ING Groep

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.