Ingredion Inc (INGR) to Issue Quarterly Dividend of $0.60

Ingredion Inc (NYSE:INGR) declared a quarterly dividend on Thursday, March 22nd, Wall Street Journal reports. Investors of record on Monday, April 2nd will be paid a dividend of 0.60 per share on Wednesday, April 25th. This represents a $2.40 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, March 29th.

Ingredion has increased its dividend payment by an average of 7.7% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Ingredion has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ingredion to earn $9.06 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 26.5%.

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INGR stock opened at $126.74 on Friday. Ingredion has a 1 year low of $113.42 and a 1 year high of $146.28. The stock has a market capitalization of $9,282.99, a PE ratio of 17.93, a P/E/G ratio of 1.41 and a beta of 0.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.66 and a current ratio of 2.52.

Ingredion (NYSE:INGR) last announced its earnings results on Thursday, February 1st. The company reported $1.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.01). Ingredion had a net margin of 8.63% and a return on equity of 20.42%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company earned $1.67 earnings per share. The company’s quarterly revenue was up 24.2% on a year-over-year basis. equities analysts predict that Ingredion will post 8.3 earnings per share for the current fiscal year.

In other news, SVP Robert J. Stefansic sold 9,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $129.62, for a total value of $1,166,580.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Martin Sonntag sold 14,939 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.00, for a total value of $2,016,765.00. Following the completion of the transaction, the senior vice president now directly owns 9,875 shares in the company, valued at $1,333,125. The disclosure for this sale can be found here. Insiders sold 40,541 shares of company stock worth $5,424,781 over the last three months. Corporate insiders own 1.92% of the company’s stock.

Several research analysts recently issued reports on the company. ValuEngine raised Ingredion from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Credit Suisse Group set a $156.00 price objective on Ingredion and gave the company a “buy” rating in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $146.00.

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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.

Dividend History for Ingredion (NYSE:INGR)

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