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

World Kinect Co. (NYSE:WKC) declared a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.17 per share on Wednesday, April 16th. This represents a $0.68 annualized dividend and a yield of 2.43%.

World Kinect has increased 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 Trading Up 1.9 %

NYSE WKC opened at $27.96 on Friday. World Kinect has a twelve month low of $21.38 and a twelve month high of $31.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 0.89 and a beta of 1.16. The firm’s 50 day moving average price is $28.32 and its two-hundred day moving average price is $28.63.

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, beating analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $9.76 billion during 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%. Equities analysts anticipate that World Kinect will post 2.56 EPS for the current year.

Analyst Ratings Changes

Separately, Stifel Nicolaus decreased their target price on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, World Kinect has a consensus rating of “Hold” and a consensus target price of $29.80.

Insider Activity at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is owned by company insiders.

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.