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

Arko Corp. (NASDAQ:ARKO) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Monday, May 20th will be given a dividend of 0.03 per share on Friday, May 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, May 17th.

Arko has a payout ratio of 240.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Arko to earn $0.07 per share next year, which means the company may not be able to cover its $0.12 annual dividend with an expected future payout ratio of 171.4%.

Arko Price Performance

Arko stock traded up $0.20 during midday trading on Thursday, reaching $5.24. 386,413 shares of the stock traded hands, compared to its average volume of 341,766. The stock’s fifty day moving average is $5.27 and its 200-day moving average is $6.93. Arko has a 12 month low of $4.09 and a 12 month high of $8.55. The stock has a market cap of $606.48 million, a P/E ratio of 20.20 and a beta of 0.36. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 3.77.

Arko (NASDAQ:ARKO) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Arko had a return on equity of 12.32% and a net margin of 0.37%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the business posted $0.09 earnings per share. As a group, equities research analysts anticipate that Arko will post 0.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reduced their price target on Arko from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Thursday. Wells Fargo & Company reduced their price target on Arko from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th.

Insider Buying and Selling at Arko

In other news, major shareholder Morris Willner sold 2,792,631 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $6.76, for a total value of $18,878,185.56. Following the completion of the sale, the insider now owns 11,683,980 shares of the company’s stock, valued at approximately $78,983,704.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.60% of the company’s stock.

About Arko

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.