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

Arko Corp. (NASDAQ:ARKO) announced a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Investors 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 yield of 2.91%. The ex-dividend date of this dividend is Monday, March 10th.

Arko has a dividend payout ratio of 600.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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

NASDAQ ARKO opened at $4.12 on Friday. Arko has a 52-week low of $3.86 and a 52-week high of $7.84. The company has a 50-day simple moving average of $6.59 and a 200 day simple moving average of $6.69. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.13 and a current ratio of 1.63. The company has a market capitalization of $476.98 million, a PE ratio of 25.75 and a beta of 0.61.

Analysts Set New Price Targets

Separately, Stifel Nicolaus downgraded shares of Arko from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $8.50 to $7.50 in a report on Thursday, February 27th.

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.