ARKO Corp. (NASDAQ:ARKO) to Issue $0.03 Quarterly Dividend

ARKO Corp. (NASDAQ:ARKO) declared a quarterly dividend on Friday, August 7th. Investors of record on Thursday, August 20th will be given a dividend of 0.03 per share on Monday, August 31st. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 20th.

ARKO has a payout ratio of 300.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect ARKO to earn $0.39 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 30.8%.

ARKO Stock Down 22.4%

NASDAQ ARKO traded down $1.63 during trading hours on Friday, hitting $5.66. 2,164,854 shares of the company were exchanged, compared to its average volume of 790,378. The company has a quick ratio of 1.19, a current ratio of 1.62 and a debt-to-equity ratio of 1.93. The firm has a market cap of $635.00 million, a price-to-earnings ratio of 29.79 and a beta of 1.00. The company has a 50 day moving average of $7.84 and a two-hundred day moving average of $6.72. ARKO has a 52-week low of $3.71 and a 52-week high of $8.76.

ARKO (NASDAQ:ARKO) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.11). ARKO had a net margin of 0.38% and a return on equity of 9.10%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Equities research analysts anticipate that ARKO will post 0.29 earnings per share for the current year.

Insider Activity

In other news, General Counsel Maury Bricks sold 15,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $7.69, for a total value of $115,350.00. Following the transaction, the general counsel owned 182,841 shares in the company, valued at approximately $1,406,047.29. This represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 21.90% of the company’s stock.

Institutional Investors Weigh In On ARKO

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in ARKO in the second quarter valued at approximately $45,154,000. Deutsche Bank AG purchased a new stake in shares of ARKO during the 2nd quarter worth approximately $610,000. Bank of New York Mellon Corp acquired a new position in shares of ARKO in the 2nd quarter valued at $6,145,000. State of Wyoming acquired a new position in shares of ARKO in the 2nd quarter valued at $503,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of ARKO in the 2nd quarter valued at $316,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

About ARKO

ARKO Corp (NASDAQ: ARKO) is a downstream energy and convenience retail company based in Matthews, North Carolina. The company’s core operations encompass fuel supply, distribution and retailing through a network of terminals, independent dealer locations and company-operated convenience stores. ARKO’s fuel offerings include branded and unbranded gasoline and diesel, as well as lubricants and other petroleum products marketed under various regional and private labels.

In its retail segment, ARKO operates a portfolio of convenience stores under the Kangaroo Express banner, serving on-site customers with fuel, grab-and-go food items, beverages and everyday household essentials.