IWG (LON:IWG) Shares Down 1.5% – Here’s Why

Shares of IWG plc (LON:IWG) traded down 1.5% on Wednesday . The company traded as low as GBX 180.20 ($2.32) and last traded at GBX 180.40 ($2.32). 94,707,406 shares were traded during trading, an increase of 1,288% from the average session volume of 6,822,095 shares. The stock had previously closed at GBX 183.10 ($2.36).

IWG Trading Down 1.5 %

The company has a debt-to-equity ratio of 12,629.31, a quick ratio of 0.45 and a current ratio of 0.41. The firm has a market cap of £1.81 billion, a price-to-earnings ratio of -13.42, a PEG ratio of -5.59 and a beta of 2.10. The business has a fifty day simple moving average of GBX 180.96 and a 200-day simple moving average of GBX 171.63.

IWG Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 1st will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a dividend yield of 0.39%. This is an increase from IWG’s previous dividend of $0.00. IWG’s dividend payout ratio is currently -7.44%.

IWG declared that its Board of Directors has approved a share repurchase program on Tuesday, March 4th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

About IWG

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products.