Dr. Martens (LON:DOCS) Trading 14.9% Higher After Dividend Announcement

Dr. Martens plc (LON:DOCS - Get Free Report) shares shot up 14.9% during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as GBX 70 ($0.89) and last traded at GBX 66.40 ($0.84). 9,112,005 shares were traded during trading, an increase of 328% from the average session volume of 2,131,099 shares. The stock had previously closed at GBX 57.80 ($0.73).

The newly announced dividend which will be paid on Tuesday, April 8th. Shareholders of record on Thursday, March 6th will be given a GBX 0.85 ($0.01) dividend. The ex-dividend date is Thursday, March 6th. This represents a dividend yield of 1.47%. Dr. Martens's dividend payout ratio is currently 4,285.71%.

Dr. Martens Trading Up 13.6 %

The business has a 50-day moving average price of GBX 55.88 and a 200-day moving average price of GBX 68.38. The company has a quick ratio of 1.13, a current ratio of 2.85 and a debt-to-equity ratio of 129.55. The firm has a market capitalization of £631.37 million, a P/E ratio of 932.47, a PEG ratio of 6.40 and a beta of 0.11.

Insiders Place Their Bets

In other Dr. Martens news, insider Kenny Wilson purchased 30,000 shares of the business's stock in a transaction on Thursday, September 26th. The stock was purchased at an average price of GBX 55 ($0.70) per share, for a total transaction of £16,500 ($20,944.40). Also, insider Andrew Harrison bought 58,220 shares of the company's stock in a transaction dated Tuesday, September 24th. The stock was bought at an average cost of GBX 52 ($0.66) per share, with a total value of £30,274.40 ($38,429.04). Insiders have acquired 88,709 shares of company stock worth $4,707,573 over the last 90 days. Corporate insiders own 4.36% of the company's stock.

About Dr. Martens

Dr. Martens plc designs, develops, procures, markets, sells, and distributes footwear in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. It offers originals, fusion, kids, and casual, as well as accessories. The company offers its products under the Dr. Martens brand name. Dr. Martens plc was founded in 1945 and is based in London, the United Kingdom.