IMI plc (LON:IMI) to Issue Dividend Increase – GBX 21.10 Per Share

IMI plc (LON:IMI) announced a dividend on Friday, February 28th, DividendData.Co.Uk reports. Stockholders of record on Thursday, April 3rd will be given a dividend of GBX 21.10 ($0.27) per share on Friday, May 16th. This represents a dividend yield of 1.04%. The ex-dividend date is Thursday, April 3rd. This is a 111.0% increase from IMI’s previous dividend of $10.00. The official announcement can be accessed at this link.

IMI Stock Performance

LON IMI opened at GBX 1,885 ($24.35) on Tuesday. The company has a market capitalization of £4.78 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08. The company has a debt-to-equity ratio of 68.33, a quick ratio of 0.80 and a current ratio of 1.36. IMI has a 52-week low of GBX 1,630 ($21.06) and a 52-week high of GBX 2,090 ($27.00). The company has a 50-day simple moving average of GBX 1,959.67 and a 200 day simple moving average of GBX 1,855.65.

IMI (LON:IMI) last issued its quarterly earnings results on Friday, February 28th. The company reported GBX 122.50 ($1.58) earnings per share (EPS) for the quarter. IMI had a net margin of 11.46% and a return on equity of 23.85%. On average, research analysts predict that IMI will post 137.9737609 EPS for the current year.

Insider Buying and Selling at IMI

In other IMI news, insider Roy Twite sold 49,259 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of GBX 1,962 ($25.35), for a total transaction of £966,461.58 ($1,248,658.37). Insiders have acquired a total of 22 shares of company stock valued at $42,388 over the last three months. 1.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Royal Bank of Canada boosted their target price on IMI from GBX 2,250 ($29.07) to GBX 2,400 ($31.01) and gave the company an “outperform” rating in a research note on Monday, March 3rd.

IMI Company Profile

IMI plc is a specialist engineering company operating in fluid and motion control markets. We combine our deep engineering knowledge with strong applications expertise to develop solutions for the most acute industry problems. We help our customers become safer, more sustainable and more productive. IMI employs around 10,000 people, has manufacturing facilities in 19 countries and operates a global service network.