Tate & Lyle plc (LON:TATE) Increases Dividend to GBX 13.10 Per Share

Tate & Lyle plc (LON:TATE – Get Rating) announced a dividend on Thursday, May 25th, Upcoming.Co.Uk reports. Shareholders of record on Thursday, June 22nd will be paid a dividend of GBX 13.10 ($0.16) per share on Wednesday, August 2nd. This represents a yield of 1.67%. The ex-dividend date of this dividend is Thursday, June 22nd. This is an increase from Tate & Lyle’s previous dividend of $5.40. The official announcement can be viewed at this link.

Tate & Lyle Price Performance

TATE stock opened at GBX 797.50 ($9.92) on Thursday. The business has a 50 day moving average price of GBX 797.52 and a 200 day moving average price of GBX 768.05. The company has a quick ratio of 1.77, a current ratio of 2.64 and a debt-to-equity ratio of 65.22. The stock has a market cap of £3.20 billion, a price-to-earnings ratio of 4,614.71, a PEG ratio of 2.98 and a beta of 0.46. Tate & Lyle has a fifty-two week low of GBX 647.80 ($8.06) and a fifty-two week high of GBX 837.50 ($10.42).

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating and set a GBX 810 ($10.07) price objective on shares of Tate & Lyle in a research report on Wednesday, May 17th. Numis Securities reaffirmed a “buy” rating and set a GBX 975 ($12.13) price objective on shares of Tate & Lyle in a report on Monday, February 6th. Berenberg Bank reissued a “buy” rating and issued a GBX 940 ($11.69) target price on shares of Tate & Lyle in a report on Thursday, February 9th. Finally, Barclays raised their price target on Tate & Lyle from GBX 890 ($11.07) to GBX 970 ($12.06) and gave the stock an “overweight” rating in a research note on Monday, February 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 909 ($11.31).

About Tate & Lyle

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Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.