Rentokil Initial plc (RTO) to Issue Semi-annual Dividend of $0.38 on May 28th

Rentokil Initial plc (NYSE:RTO) declared a semi-annual dividend on Thursday, March 14th, Wall Street Journal reports. Stockholders of record on Friday, April 5th will be paid a dividend of 0.3784 per share on Tuesday, May 28th. This represents a dividend yield of 1.6%. The ex-dividend date is Thursday, April 4th. This is an increase from Rentokil Initial’s previous semi-annual dividend of $0.18.

Rentokil Initial has a dividend payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rentokil Initial to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 51.0%.

Rentokil Initial Stock Down 1.3 %

NYSE:RTO opened at $29.77 on Tuesday. The business’s 50-day moving average price is $28.18 and its 200 day moving average price is $29.19. Rentokil Initial has a 52-week low of $23.39 and a 52-week high of $41.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BNP Paribas raised shares of Rentokil Initial from a “neutral” rating to an “outperform” rating in a research note on Monday, March 18th. Bank of America lowered Rentokil Initial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $29.00 in a research note on Wednesday, January 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. NFJ Investment Group LLC purchased a new stake in shares of Rentokil Initial in the fourth quarter valued at $864,000. Voloridge Investment Management LLC lifted its stake in Rentokil Initial by 384.6% in the 4th quarter. Voloridge Investment Management LLC now owns 262,228 shares of the company’s stock worth $7,502,000 after acquiring an additional 208,112 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Rentokil Initial during the 4th quarter worth about $844,000. Royal Bank of Canada grew its stake in Rentokil Initial by 4.1% during the 4th quarter. Royal Bank of Canada now owns 56,959 shares of the company’s stock valued at $1,629,000 after acquiring an additional 2,267 shares in the last quarter. Finally, Pathstone Holdings LLC acquired a new position in shares of Rentokil Initial in the 4th quarter valued at about $214,000. 9.91% of the stock is currently owned by institutional investors and hedge funds.

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.