ATLANTA & NEW YORK - Intercontinental Exchange (NYSE: NYSE:ICE), a prominent global provider of data and technology services, has declared an increase in its quarterly dividend. Today, the company announced a dividend of $0.45 per share for the second quarter of 2024, marking a 7% rise from the previous year's second quarter dividend of $0.42 per share.
The upcoming dividend is slated for distribution on June 28, 2024, to shareholders on record as of June 13, 2024. The ex-dividend date, which is the cutoff for eligibility to receive the dividend, is also set for June 13, 2024.
Intercontinental Exchange operates essential financial and commodity markets, including the New York Stock Exchange, and provides a wide array of data services and technology solutions. The company's platforms play a significant role in global trading, risk management, and capital raising endeavors.
This announcement of an increased dividend reflects the company's financial performance and its commitment to providing value to its shareholders. It is important to note that this information is based on a press release statement from Intercontinental Exchange.
InvestingPro Insights
As Intercontinental Exchange (NYSE: ICE) announces a dividend increase, signaling confidence in its financial stability and commitment to shareholder returns, InvestingPro data and tips provide a deeper understanding of the company's market position and future outlook.
According to InvestingPro data, ICE boasts a market capitalization of $73.75 billion, reflecting its substantial presence in the global market. The company's P/E ratio stands at 30.91, which adjusts to 28.62 when considering the last twelve months as of Q4 2023.
This suggests a valuation that investors may find attractive in light of its near-term earnings growth prospects. Moreover, the company's PEG ratio for the same period is notably low at 0.5, indicating potential undervaluation relative to its earnings growth rate.
Delving into InvestingPro Tips, it's important to highlight that ICE has consistently rewarded its investors by raising its dividend for 12 consecutive years. 11 analysts have revised their earnings estimates upwards for the upcoming period, reinforcing the positive sentiment around the company's financial prospects. With a robust history of profitability, including over the last twelve months, ICE appears to be on a solid trajectory for continued success.
For those interested in gaining more insights and leveraging the latest financial data, InvestingPro offers additional tips on ICE, which can be accessed via Investing.com/pro/ICE. Investors can take advantage of the exclusive coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 8 InvestingPro Tips available, subscribers can further enrich their investment strategy and decision-making process.
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