Omnicom Group Inc. (OMC) to Issue Quarterly Dividend of $0.60
Omnicom Group Inc. (NYSE:OMC) declared a quarterly dividend on Monday, December 4th, RTT News reports. Shareholders of record on Tuesday, December 19th will be given a dividend of 0.60 per share by the business services provider on Tuesday, January 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from Omnicom Group’s previous quarterly dividend of $0.55.
Omnicom Group has raised its dividend payment by an average of 20.5% annually over the last three years and has raised its dividend every year for the last 7 years. Omnicom Group has a payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Omnicom Group to earn $5.41 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 40.7%.
Omnicom Group (NYSE:OMC) traded up $1.32 during trading on Monday, hitting $74.70. 4,181,189 shares of the company’s stock were exchanged, compared to its average volume of 1,922,481. Omnicom Group has a 12-month low of $65.32 and a 12-month high of $89.66. The company has a market capitalization of $16,916.49, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.98 and a beta of 1.24. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.90 and a quick ratio of 0.79.
In other Omnicom Group news, Director Linda Johnson Rice sold 489 shares of Omnicom Group stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $74.32, for a total value of $36,342.48. Following the sale, the director now owns 7,777 shares of the company’s stock, valued at $577,986.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
OMC has been the topic of a number of recent research reports. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Citigroup raised shares of Omnicom Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 6th. BMO Capital Markets reissued a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a research report on Wednesday, September 13th. Jefferies Group reissued a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a research report on Thursday, September 21st. Finally, Zacks Investment Research lowered shares of Omnicom Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $84.00.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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