Arko Corp. (NASDAQ:ARKO) Declares $0.03 Quarterly Dividend

Arko Corp. (NASDAQ:ARKO) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Monday, March 10th will be given a dividend of 0.03 per share on Friday, March 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Monday, March 10th.

Arko has a dividend payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Arko to earn $0.38 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 31.6%.

Arko Stock Performance

Shares of ARKO traded down $2.74 during mid-day trading on Thursday, reaching $4.52. 5,819,378 shares of the company’s stock traded hands, compared to its average volume of 580,597. The business’s 50-day moving average price is $6.87 and its 200-day moving average price is $6.78. The stock has a market capitalization of $523.28 million, a P/E ratio of 28.25 and a beta of 0.50. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.13 and a current ratio of 1.63. Arko has a 12 month low of $4.09 and a 12 month high of $7.84.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut Arko from a “buy” rating to a “hold” rating and cut their price target for the company from $8.50 to $7.50 in a report on Thursday.

Arko Company Profile

Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPMP segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents. The Fleet Fueling segment supplies fuel to proprietary and third-party cardlock, and issuance of proprietary fuel cards.