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

World Kinect Co. (NYSE:WKC) announced 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 annualized dividend and a dividend yield of 2.43%.

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% meaning 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 stock opened at $27.96 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. World Kinect has a one year low of $21.38 and a one year high of $31.71. The company’s 50-day simple moving average is $28.32 and its 200-day simple moving average is $28.63. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 0.89 and a beta of 1.16.

World Kinect (NYSE:WKC) last issued 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. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Equities analysts anticipate that World Kinect will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut their target price on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, World Kinect currently has an average rating of “Hold” and an average price target of $29.80.

Insider Activity

In related news, CEO Michael J. Kasbar sold 21,507 shares of the firm’s 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 transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $29,512,064.48. This trade represents a 2.07 % 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. Corporate 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.