Rentokil Initial plc (NYSE:RTO) Plans Semi-annual Dividend of $0.20

Rentokil Initial plc (NYSE:RTO) declared a semi-annual dividend on Thursday, July 25th, Wall Street Journal reports. Stockholders of record on Friday, August 9th will be paid a dividend of 0.2034 per share on Tuesday, September 17th. This represents a dividend yield of 1.7%. The ex-dividend date is Friday, August 9th.

Rentokil Initial has a payout ratio of 44.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rentokil Initial to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 44.1%.

Rentokil Initial Stock Performance

Rentokil Initial stock opened at $30.75 on Friday. The stock’s fifty day moving average price is $29.02 and its two-hundred day moving average price is $28.16. Rentokil Initial has a one year low of $23.39 and a one year high of $41.55.

Wall Street Analysts Forecast Growth

RTO has been the topic of a number of recent research reports. Sanford C. Bernstein upgraded Rentokil Initial from an “underperform” rating to a “market perform” rating in a research note on Monday, July 22nd. UBS Group upgraded Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. initiated coverage on Rentokil Initial in a research note on Tuesday, April 23rd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.00.

About Rentokil Initial

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.