Rentokil Initial PLC (RTO) to Distribute Dividend of $0.22 on September 22nd

Rentokil Initial PLC (NYSE:RTO) declared a dividend on Thursday, July 30th. Shareholders of record on Friday, August 14th will be given a dividend of 0.224 per share on Tuesday, September 22nd. This represents a yield of 192.0%. The ex-dividend date is Friday, August 14th.

Rentokil Initial has raised its dividend payment by an average of 0.2%annually over the last three years. Rentokil Initial has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rentokil Initial to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 29.9%.

Rentokil Initial Trading Up 1.1%

Shares of RTO stock opened at $24.57 on Wednesday. The company has a fifty day moving average price of $28.59 and a two-hundred day moving average price of $30.86. Rentokil Initial has a one year low of $23.26 and a one year high of $34.67. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76.

Hedge Funds Weigh In On Rentokil Initial

Several institutional investors and hedge funds have recently added to or reduced their stakes in RTO. Versant Capital Management Inc raised its position in Rentokil Initial by 10.8% in the second quarter. Versant Capital Management Inc now owns 9,965 shares of the company’s stock valued at $285,000 after purchasing an additional 970 shares during the last quarter. Parallel Advisors LLC boosted its stake in Rentokil Initial by 50.5% during the 1st quarter. Parallel Advisors LLC now owns 2,107 shares of the company’s stock valued at $66,000 after purchasing an additional 707 shares during the last quarter. NewEdge Advisors LLC increased its stake in Rentokil Initial by 1,098.7% in the 1st quarter. NewEdge Advisors LLC now owns 9,062 shares of the company’s stock valued at $285,000 after buying an additional 8,306 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Rentokil Initial by 60.7% during the 1st quarter. Bank of America Corp DE now owns 6,650,998 shares of the company’s stock worth $209,373,000 after buying an additional 2,511,135 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Rentokil Initial by 3.0% during the 1st quarter. Janus Henderson Group PLC now owns 16,591,965 shares of the company’s stock worth $522,329,000 after purchasing an additional 490,885 shares during the period. Institutional investors own 9.91% of the company’s stock.

About Rentokil Initial

Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.

Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.