Spok Holdings, Inc. Announces Quarterly Dividend of $0.31 (NASDAQ:SPOK)

Spok Holdings, Inc. (NASDAQ:SPOK) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Monday, November 18th will be given a dividend of 0.313 per share by the Wireless communications provider on Monday, December 9th. This represents a $1.25 dividend on an annualized basis and a yield of 8.04%. The ex-dividend date is Monday, November 18th.

Spok has increased its dividend by an average of 35.7% annually over the last three years. Spok has a payout ratio of 143.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Spok to earn $0.87 per share next year, which means the company may not be able to cover its $1.25 annual dividend with an expected future payout ratio of 143.7%.

Spok Stock Performance

SPOK opened at $15.57 on Friday. Spok has a one year low of $13.24 and a one year high of $18.14. The company has a market cap of $315.51 million, a price-to-earnings ratio of 21.33 and a beta of 0.33. The business’s fifty day moving average is $14.96 and its two-hundred day moving average is $15.06.

Insider Transactions at Spok

In other news, COO Michael W. Wallace sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $14.80, for a total transaction of $370,000.00. Following the sale, the chief operating officer now directly owns 49,465 shares in the company, valued at approximately $732,082. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Vincent D. Kelly sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.83, for a total value of $667,350.00. Following the sale, the chief executive officer now directly owns 201,645 shares in the company, valued at $2,990,395.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael W. Wallace sold 25,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total value of $370,000.00. Following the transaction, the chief operating officer now directly owns 49,465 shares of the company’s stock, valued at approximately $732,082. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.51% of the company’s stock.

Analyst Upgrades and Downgrades

SPOK has been the subject of several analyst reports. B. Riley began coverage on Spok in a research note on Thursday, September 26th. They issued a “neutral” rating and a $15.00 target price for the company. StockNews.com raised Spok from a “hold” rating to a “buy” rating in a research report on Friday, October 25th.

Spok Company Profile

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company's products and services enhance workflows for clinicians and support administrative compliance. It delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager.