AMCON Distributing Company (NYSEAMERICAN:DIT) Announces $0.12 Quarterly Dividend

AMCON Distributing Company (NYSEAMERICAN:DIT) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Friday, August 7th will be given a dividend of 0.12 per share on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 7th.

AMCON Distributing Trading Up 25.6%

DIT opened at $81.61 on Wednesday. AMCON Distributing has a one year low of $59.15 and a one year high of $95.59. The company has a market cap of $79.98 million, a P/E ratio of 174.88 and a beta of -0.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 2.17. The business’s 50-day simple moving average is $72.85 and its 200-day simple moving average is $77.79.

Hedge Funds Weigh In On AMCON Distributing

Several hedge funds have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC lifted its position in shares of AMCON Distributing by 1.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 9,538 shares of the company’s stock worth $1,006,000 after buying an additional 136 shares during the last quarter. Empowered Funds LLC grew its position in shares of AMCON Distributing by 4.7% in the 4th quarter. Empowered Funds LLC now owns 3,008 shares of the company’s stock valued at $333,000 after buying an additional 136 shares during the last quarter. Renaissance Technologies LLC raised its stake in AMCON Distributing by 50.0% during the 1st quarter. Renaissance Technologies LLC now owns 14,001 shares of the company’s stock worth $1,260,000 after acquiring an additional 4,666 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in AMCON Distributing by 49.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company’s stock worth $2,842,000 after acquiring an additional 10,393 shares in the last quarter. 11.14% of the stock is currently owned by hedge funds and other institutional investors.

AMCON Distributing Company Profile

AMCON Distributing, headquartered in Brentwood, Tennessee, operates as a wholesale distributor of tobacco, vaping products and convenience store items. The company’s core portfolio includes cigarettes, smokeless tobacco, e-liquids, snacks, beverages and general merchandise. Through its network of regional warehouses and dedicated delivery fleet, AMCON serves convenience stores, independent retailers, gas stations and small grocery outlets, offering daily restocking and inventory management solutions tailored to each customer’s needs.

Covering multiple states across the Southeastern and South Central United States, AMCON maintains distribution points in Tennessee, Georgia, Alabama, Kentucky, Mississippi and portions of Florida and Texas.