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

Arko Corp. (NASDAQ:ARKO - Get Free Report) declared a quarterly dividend on Tuesday, February 18th, 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 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Monday, March 10th.

Arko has a payout ratio of 37.5% indicating that 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 Down 7.8 %

Shares of ARKO traded down $0.35 during mid-day trading on Monday, hitting $4.16. 1,660,987 shares of the company traded hands, compared to its average volume of 635,570. Arko has a 1-year low of $4.09 and a 1-year high of $7.84. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 3.86. The company has a market capitalization of $481.61 million, a PE ratio of 26.00 and a beta of 0.50. The business has a 50 day moving average of $6.74 and a 200 day moving average of $6.75.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus downgraded shares of Arko from a "buy" rating to a "hold" rating and cut their price objective for the company from $8.50 to $7.50 in a report on Thursday.

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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.