World Kinect (WKC) Declares $0.14 Dividend
World Kinect said on September 21, 2023 that its board of directors declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Previously, the company paid $0.14 per share.
Shareholders of record as of October 2, 2023 will receive the payment on October 16, 2023.
At the current share price of $22.92 / share, the stock's dividend yield is 2.44%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.51%, the lowest has been 2.38%, and the highest has been 2.73%. The standard deviation of yields is 0.09 (n=12).
The current dividend yield is 0.78 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.29. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.40%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 30.54% Upside
As of August 31, 2023, the average one-year price target for World Kinect is 29.92. The forecasts range from a low of 23.23 to a high of $36.75. The average price target represents an increase of 30.54% from its latest reported closing price of 22.92.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for World Kinect is 52,942MM, a decrease of 0.11%. The projected annual non-GAAP EPS is 2.18.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 4,376K shares representing 7.27% ownership of the company. In it's prior filing, the firm reported owning 4,504K shares, representing a decrease of 2.94%. The firm decreased its portfolio allocation in WKC by 23.85% over the last quarter.
Invesco holds 3,429K shares representing 5.70% ownership of the company. In it's prior filing, the firm reported owning 3,136K shares, representing an increase of 8.53%. The firm increased its portfolio allocation in WKC by 798.37% over the last quarter.
RWJ - Invesco S&P SmallCap 600 Revenue ETF holds 2,406K shares representing 4.00% ownership of the company. In it's prior filing, the firm reported owning 2,146K shares, representing an increase of 10.84%. The firm decreased its portfolio allocation in WKC by 2.07% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,829K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 1,821K shares, representing an increase of 0.44%. The firm decreased its portfolio allocation in WKC by 24.99% over the last quarter.
Boston Partners holds 1,722K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 1,819K shares, representing a decrease of 5.65%. The firm increased its portfolio allocation in WKC by 97.77% over the last quarter.
World Kinect Background Information
(This description is provided by the company.)
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.
Additional reading:
- Articles of Amendment to Articles of Incorporation of (Name of Corporation as currently filed with the Florida Dept. of State) (Document Number of Corporation (if known) Pursuant to the provisions of section 607.1006, Florida Statutes, this Florida P
- RESTATED ARTICLES OF INCORPORATION WORLD KINECT CORPORATION
- World Kinect Corporation Reports Second Quarter 2023 Results
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