ING Groep (ING) to Issue Semi-annual Dividend of $0.17 on January 23rd

ING Groep (NYSE:ING) declared a semi-annual dividend on Monday, January 6th,Wall Street Journal reports. Shareholders of record on Monday, January 13th will be paid a dividend of 0.1667 per share by the financial services provider on Thursday, January 23rd. This represents a dividend yield of 6.4%. The ex-dividend date is Monday, January 13th.

ING Groep has increased its dividend payment by an average of 19.7% annually over the last three years. ING Groep has a dividend payout ratio of 13.6% meaning its dividend is sufficiently covered by earnings. Analysts expect ING Groep to earn $2.14 per share next year, which means the company should continue to be able to cover its $0.33 annual dividend with an expected future payout ratio of 15.4%.

ING Groep Stock Performance

NYSE ING opened at $15.56 on Friday. The stock has a market capitalization of $54.43 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 5.97 and a beta of 1.47. The stock has a 50-day moving average of $15.67 and a 200 day moving average of $16.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a twelve month low of $12.77 and a twelve month high of $18.72.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ING. Barclays lowered ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Citigroup upgraded ING Groep to a “strong-buy” rating in a report on Thursday, October 17th.

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.