St. Joe (JOE) Declares $0.10 Dividend
St. Joe said on April 26, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.10 per share.
Shares must be purchased before the ex-div date of May 16, 2023 to qualify for the dividend. Shareholders of record as of May 17, 2023 will receive the payment on June 15, 2023.
At the current share price of $40.57 / share, the stock's dividend yield is 0.99%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.58%, the lowest has been 0.61%, and the highest has been 3.06%. The standard deviation of yields is 0.74 (n=236).
The current dividend yield is 0.80 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.34. 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.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 426 funds or institutions reporting positions in St. Joe. This is an increase of 5 owner(s) or 1.19% in the last quarter. Average portfolio weight of all funds dedicated to JOE is 0.71%, an increase of 23.40%. Total shares owned by institutions increased in the last three months by 0.75% to 77,364K shares. 
The put/call ratio of JOE is 1.35, indicating a bearish outlook.
What are Other Shareholders Doing?
Fairholme Capital Management holds 24,288K shares representing 41.62% ownership of the company. In it's prior filing, the firm reported owning 24,470K shares, representing a decrease of 0.75%. The firm increased its portfolio allocation in JOE by 3.05% over the last quarter.
FAIRX - The Fairholme Fund holds 20,785K shares representing 35.61% ownership of the company. In it's prior filing, the firm reported owning 20,922K shares, representing a decrease of 0.66%. The firm increased its portfolio allocation in JOE by 4.56% over the last quarter.
T. Rowe Price Investment Management holds 2,913K shares representing 4.99% ownership of the company. In it's prior filing, the firm reported owning 2,352K shares, representing an increase of 19.27%. The firm increased its portfolio allocation in JOE by 43.56% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,507K shares representing 4.30% ownership of the company. In it's prior filing, the firm reported owning 2,501K shares, representing an increase of 0.26%. The firm increased its portfolio allocation in JOE by 10.06% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 1,831K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 1,445K shares, representing an increase of 21.11%. The firm increased its portfolio allocation in JOE by 49.58% over the last quarter.
St. Joe Background Information
(This description is provided by the company.)
The St. Joe Company, together with its consolidated subsidiaries, is a real estate development, asset management and operation company. The Company owns land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process.
This story originally appeared on Fintel.