Ingredion Inc (NYSE:INGR) announced a quarterly dividend on Monday, September 17th, Wall Street Journal reports. Shareholders of record on Monday, October 1st will be given a dividend of 0.625 per share on Thursday, October 25th. This represents a $2.50 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, September 28th. This is an increase from Ingredion’s previous quarterly dividend of $0.60.

Ingredion has increased its dividend by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 5 years. Ingredion has a payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ingredion to earn $8.30 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 30.1%.

Shares of INGR stock opened at $104.15 on Friday. Ingredion has a fifty-two week low of $95.01 and a fifty-two week high of $146.28. The firm has a market capitalization of $7.52 billion, a PE ratio of 13.53, a PEG ratio of 1.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.46 and a quick ratio of 1.48.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.01. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the business posted $1.89 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. sell-side analysts anticipate that Ingredion will post 7.53 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on INGR. Stephens restated an “equal weight” rating on shares of Ingredion in a research report on Thursday, June 28th. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday. Vertical Group upgraded Ingredion from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Citigroup cut Ingredion from a “neutral” rating to a “sell” rating in a research report on Friday, July 13th. Finally, ValuEngine cut Ingredion from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Ingredion presently has an average rating of “Hold” and an average price target of $131.60.

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.

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Dividend History for Ingredion (NYSE:INGR)

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