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Omnicom Hikes Dividend by 8% Despite COVID-19-Related Revenue Hit

Omnicom Group Inc. (OMC) is a leading global marketing and corporate communications business serving more than 5,000 clients in more than 70 countries.

The company generated 56% of its revenue from Advertising, 16.5% from CRM Customer Experience, 8.6% from CRM Execution & Support, 9.9% from Public Relations, and 9% from Healthcare during the fourth quarter of 2020. Most of the spending within these categories came from Pharmaceuticals and Healthcare (16%), Food and Beverage (14%), and Automotive (10%) industries around the world.

In geographic terms, the company generated 58% of its revenue from North America, 27% of its revenue from Europe, 11% of its revenue from the Asia Pacific region, and the remainder from Latin America, the Middle East and Africa during the quarter.

Omnicom Beats Low Expectations

Omnicom Group reported fourth-quarter revenue that fell by 9.2% to $3.76 billion, beating consensus estimates by $100 million, with GAAP earnings of $1.84 per share, beating consensus estimates by 21 cents. While the results were better than analysts expected, COVID-19 contributed to a sharp decline in advertising spend around the world.

Despite the lackluster fourth-quarter performance, the company raised its quarterly dividend by 7.7% to $0.70 per share, which represents a 3.8% forward yield. The dividend is payable on April 8, 2021 to shareholders on record as of March 10, 2021.

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