British American Tobacco p.l.c. (NYSE:BTI) to Issue Dividend Increase – $0.74 Per Share

British American Tobacco p.l.c. (NYSE:BTI) declared a quarterly dividend on Thursday, February 8th, Wall Street Journal reports. Investors of record on Friday, June 28th will be paid a dividend of 0.7431 per share on Wednesday, August 7th. This represents a $2.97 dividend on an annualized basis and a yield of 9.25%. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from British American Tobacco’s previous quarterly dividend of $0.73.

British American Tobacco has increased its dividend by an average of 1.5% per year over the last three years. British American Tobacco has a payout ratio of 60.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect British American Tobacco to earn $4.97 per share next year, which means the company should continue to be able to cover its $2.97 annual dividend with an expected future payout ratio of 59.8%.

British American Tobacco Stock Down 0.7 %

BTI stock opened at $32.14 on Wednesday. British American Tobacco has a 52-week low of $28.25 and a 52-week high of $34.28. The company has a current ratio of 0.91, a quick ratio of 0.59 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $30.55 and a 200-day moving average price of $30.12.

Wall Street Analyst Weigh In

Separately, StockNews.com cut British American Tobacco from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

British American Tobacco Company Profile

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.