SpartanNash (NASDAQ:SPTN) Announces Dividend Increase – $0.22 Per Share

SpartanNash (NASDAQ:SPTN) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Stockholders of record on Friday, March 21st will be given a dividend of 0.22 per share on Wednesday, April 2nd. This represents a $0.88 annualized dividend and a dividend yield of 4.44%. This is a 1.1% increase from SpartanNash’s previous quarterly dividend of $0.22.

SpartanNash has increased its dividend payment by an average of 2.8% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. SpartanNash has a dividend payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Analysts expect SpartanNash to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.87 annual dividend with an expected future payout ratio of 48.3%.

SpartanNash Stock Down 2.8 %

SPTN traded down $0.58 during trading hours on Tuesday, hitting $19.81. 212,771 shares of the company’s stock were exchanged, compared to its average volume of 245,432. The firm has a market cap of $668.88 million, a P/E ratio of -1,981.00 and a beta of 0.34. SpartanNash has a 12-month low of $17.30 and a 12-month high of $23.00. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $18.90 and a 200 day moving average of $19.95.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. During the same period in the previous year, the business posted $0.35 EPS. Analysts predict that SpartanNash will post 1.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPTN has been the topic of several analyst reports. Northcoast Research cut shares of SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Wednesday, February 19th. StockNews.com lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a report on Thursday, January 30th.

About SpartanNash

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.