World Kinect Co. (NYSE:WKC) Announces Quarterly Dividend of $0.17

World Kinect Co. (NYSE:WKC - Get Free Report) declared a quarterly dividend on Friday, March 14th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.17 per share on Wednesday, April 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Monday, March 31st.

World Kinect has raised its dividend by an average of 12.3% per year over the last three years. World Kinect has a payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect World Kinect to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 22.0%.

World Kinect Stock Performance

Shares of WKC traded down $0.35 during mid-day trading on Tuesday, reaching $28.53. 724,086 shares of the company's stock were exchanged, compared to its average volume of 668,727. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The stock has a market capitalization of $1.62 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The business's fifty day simple moving average is $28.34 and its 200-day simple moving average is $28.64. World Kinect has a 52-week low of $21.38 and a 52-week high of $31.71.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $10.57 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. On average, equities research analysts expect that World Kinect will post 2.56 earnings per share for the current year.

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Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered their price target on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, World Kinect currently has a consensus rating of "Hold" and an average target price of $29.80.

Insider Transactions at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total transaction of $622,842.72. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares of the company's stock, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company's stock.

About World Kinect

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.