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

Spok Holdings, Inc. (NASDAQ:SPOK - Get Free Report) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.313 per share by the Wireless communications provider on Monday, December 9th. This represents a $1.25 annualized dividend and a dividend yield of 8.08%. The ex-dividend date is Monday, November 18th.

Spok has raised its dividend payment by an average of 35.7% annually over the last three years. Spok has a dividend 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. Equities 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 Trading Down 0.5 %

Spok stock traded down $0.08 during midday trading on Friday, reaching $15.49. The stock had a trading volume of 170,352 shares, compared to its average volume of 130,921. The company has a fifty day moving average price of $14.96 and a two-hundred day moving average price of $15.06. Spok has a 12 month low of $13.24 and a 12 month high of $18.14. The company has a market capitalization of $313.89 million, a P/E ratio of 21.22 and a beta of 0.33.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SPOK shares. StockNews.com upgraded Spok from a "hold" rating to a "buy" rating in a report on Friday, October 25th. B. Riley assumed coverage on shares of Spok in a report on Thursday, September 26th. They set a "neutral" rating and a $15.00 price objective on the stock.

Insiders Place Their Bets

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

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.