Dividend Coverage: This Global Ingredient Solutions Provider raised its Dividend by 20%; Will Trade Ex-Dividend on September 29, 2017

LONDON, UK / ACCESSWIRE / September 28, 2017 / Pro-Trader Daily takes a closer look at Ingredion Inc. (NYSE: INGR) as the Company’s stock will begin trading ex-dividend on September 29, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on September 28, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Today, PRO-TD covers ex-dividend news on INGR. Get our free coverage by signing up at:

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Dividend Declared

On September 15, 2017, Ingredion’s Board of Directors increased the Company’s quarterly dividend to $0.60 per share on its common stock. The dividend, up from $0.50 per share last quarter, is payable on October 25, 2017, to stockholders of record at the close of business on October 02, 2017.

Ingredion’s indicated dividend represents a yield of 2.00%, which is substantially above the average dividend yield of 1.82% for the Consumer Goods sector. The Company has raised its dividend for four consecutive years.

Dividend Insights

Ingredion has a dividend payout ratio of 31.3%, which indicates that it distributes approximately $0.31 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Ingredion is forecasted to report earnings of $8.22 per share in the coming year, which means that the Company should be able to comfortably cover its annualized dividend of $2.40.

At June 30, 2017, total debt and cash and short-term investments were $1.95 billion and $454 million, respectively, versus $1.96 billion and $516 million, respectively, at December 31, 2016 The Company’s net cash provided by operating activities totaled $302 million for the six months ended June 30, 2017, compared to operating cash flows of $266 million for the six months ended June 30, 2016. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.

Recent Development for Ingredion

On September 18, 2017, Ingredion announced that its Board of Directors has unanimously selected James P. (Jim) Zallie as the Company’s President and CEO effective January 01, 2018. Ilene Gordon, current CEO, President, and Chairman, will serve as the Company’s Executive Chairman of the Board, a position she will hold until her retirement in July 2018. Zallie will also immediately join Ingredion’s Board.

Commenting on the appointment Gordon said:

“Over the years the Board and I have focused on attracting and retaining top-tier talent and succession planning. After working with Jim for more than seven years, the Board and I are confident that he is absolutely the right choice to lead the company going forward. During his tenure, Jim has been vital to the successful execution of our Strategic Blueprint for Growth. He has been responsible for all four of our business regions as well as the global specialty portfolio that has grown to 26% of Ingredion revenue under his leadership.”

Zallie, currently Executive Vice President global specialties and president – Americas, joined Ingredion in 2010 when the Company acquired National Starch LLC, a $1.2 billion (revenue) leader in specialty starches. Prior to his current role, Zallie was responsible for Ingredion’s operations in Asia/Pacific (APAC) and Europe, Middle-East, and Africa (EMEA) regions along with corporate-wide responsibility for global innovation and operational excellence.

About Ingredion

Ingredion is a leading global ingredient solutions provider with 2016 revenues close to $6 billion. The FORTUNE 500 Company turns grains, fruits, vegetables, and other plant materials into value-added ingredients and biomaterial solutions for the food, beverage, paper and corrugating brewing and other industries. Serving customers in over 100 countries, its ingredients make crackers crunchy, yogurts creamy, candy sweet, paper stronger, and add fiber to nutrition bars.

Stock Performance

Ingredion’s share price finished yesterday’s trading session at $120.59, slightly up 0.11%. A total volume of 327.12 thousand shares have exchanged hands. The Company’s stock price advanced 3.30% in the last three months. Shares of the Company have a PE ratio of 18.14 and have a dividend yield of 1.99%. The stock currently has a market cap of $8.66 billion.

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