Pearson, PLC (NYSE:PSO) Announces Dividend of $0.07
Pearson, PLC (NYSE:PSO) announced a dividend on Tuesday, August 8th, NASDAQ reports. Stockholders of record on Friday, August 18th will be given a dividend of 0.065 per share on Wednesday, September 20th. The ex-dividend date is Wednesday, August 16th.
Pearson, PLC has increased its dividend by an average of 0.4% annually over the last three years. Pearson, PLC has a payout ratio of 138.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Pearson, PLC to earn $0.62 per share next year, which means the company may not be able to cover its $0.87 annual dividend with an expected future payout ratio of 140.3%.
Pearson, PLC (NYSE:PSO) traded up 0.12% during mid-day trading on Wednesday, hitting $8.07. 503,441 shares of the stock traded hands. The stock has a 50 day moving average price of $8.63 and a 200 day moving average price of $8.42. The firm’s market cap is $6.57 billion. Pearson, PLC has a 12-month low of $7.04 and a 12-month high of $11.69.
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PSO has been the topic of several recent research reports. Zacks Investment Research cut shares of Pearson, PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of Pearson, PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $10.00.
About Pearson, PLC
Pearson plc (Pearson) is a learning company. The Company delivers learning through providing a range of educational products and services to institutions, governments, professional bodies and individual learners. The Company operates through three segments, which include North America, Core and Growth.
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