Ark Restaurants (ARKR) Declares $0.19 Dividend
Ark Restaurants said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.19 per share ($0.75 annualized). Previously, the company paid $0.12 per share.
Shares must be purchased before the ex-div date of May 30, 2023 to qualify for the dividend. Shareholders of record as of May 31, 2023 will receive the payment on June 13, 2023.
At the current share price of $17.70 / share, the stock's dividend yield is 4.24%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.02%, the lowest has been 2.27%, and the highest has been 5.50%. The standard deviation of yields is 1.03 (n=130).
The current dividend yield is 0.21 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.20. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
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What is the Fund Sentiment?
There are 50 funds or institutions reporting positions in Ark Restaurants. This is an increase of 4 owner(s) or 8.70% in the last quarter. Average portfolio weight of all funds dedicated to ARKR is 0.09%, a decrease of 19.65%. Total shares owned by institutions increased in the last three months by 3.91% to 692K shares.
What are Other Shareholders Doing?
CM Management holds 185K shares representing 5.13% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 56K shares representing 1.55% ownership of the company. No change in the last quarter.
DFFVX - U.S. Targeted Value Portfolio - Institutional Class holds 41K shares representing 1.15% ownership of the company. In it's prior filing, the firm reported owning 41K shares, representing an increase of 1.46%. The firm decreased its portfolio allocation in ARKR by 15.25% over the last quarter.
First Manhattan holds 40K shares representing 1.11% ownership of the company. In it's prior filing, the firm reported owning 37K shares, representing an increase of 7.28%. The firm decreased its portfolio allocation in ARKR by 16.77% over the last quarter.
Verdad Advisers holds 39K shares representing 1.08% ownership of the company. In it's prior filing, the firm reported owning 40K shares, representing a decrease of 2.45%. The firm decreased its portfolio allocation in ARKR by 99.94% over the last quarter.
Ark Restaurants Background Information
(This description is provided by the company.)
Ark Restaurants owns and operates 20 restaurants and bars, 17 fast food concepts and catering operations primarily in New York City, Florida, Washington, D.C, Las Vegas, Nevada and the gulf coast of Alabama. Five restaurants are located in New York City, two are located in Washington, D.C., five are located in Las Vegas, Nevada, three are located in Atlantic City, New Jersey, three are located on the east coast of Florida and two are located on the Gulf Coast of Alabama. The Las Vegas operations include four restaurants within the New York-New York Hotel & Casino Resort and operation of the hotel's room service, banquet facilities, employee dining room and six food court concepts and one restaurant within the Planet Hollywood Resort and Casino. In Atlantic City, New Jersey, the Company operates a restaurant and a bar in the Resorts Atlantic City Hotel and Casino and a restaurant in the Tropicana Hotel and Casino. The operation at the Foxwoods Resort Casino consists of one fast food concept. The Florida operations include the Rustic Inn in Dania Beach, Shuckers in Jensen Beach and JB's on the Beach in Deerfield Beach, and the operation of four fast food facilities in Tampa and six fast food facilities in Hollywood, each at a Hard Rock Hotel and Casino operated by the Seminole Indian Tribe at these locations. In Alabama, the Company operates two Original Oyster Houses, one in Gulf Shores and one in Spanish Fort.
This story originally appeared on Fintel.