Ingredion Inc (INGR) Announces Quarterly Dividend of $0.63

Ingredion Inc (NYSE:INGR) announced a quarterly dividend on Wednesday, March 20th, NASDAQ reports. Investors of record on Monday, April 1st will be paid a dividend of 0.625 per share on Thursday, April 25th. This represents a $2.50 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, March 29th.

Ingredion has increased its dividend by an average of 12.3% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Ingredion has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Ingredion to earn $7.74 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 32.3%.

Shares of Ingredion stock traded down $0.61 on Monday, hitting $93.95. 378,898 shares of the company’s stock traded hands, compared to its average volume of 537,465. Ingredion has a one year low of $87.02 and a one year high of $131.99. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.26 and a quick ratio of 1.39. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.21 and a beta of 0.68.

Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, February 5th. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). Ingredion had a net margin of 7.31% and a return on equity of 17.77%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company earned $1.35 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts expect that Ingredion will post 7.14 EPS for the current fiscal year.

Several brokerages have issued reports on INGR. Seaport Global Securities began coverage on Ingredion in a report on Thursday, February 21st. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Vertical Group lowered Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Finally, ValuEngine lowered Ingredion from a “hold” rating to a “sell” rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $117.80.

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Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.

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Dividend History for Ingredion (NYSE:INGR)

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