Jersey Mike's (NYSE:JMKE) Announces Special Dividend of $0.35

Key Points

• Jersey Mike’s declared a special dividend of $0.35 per share. Shareholders of record on November 5 will receive payment on November 19, with November 5 listed as the ex-dividend date.
• The stock opened at $18.85, up 3.0%, while the company reported quarterly EPS of $0.23, beating estimates of $0.16. Revenue reached $209 million, a 10% year-over-year increase.
• Insiders sold 5.53 million shares worth approximately $120.8 million during the last quarter, including substantial sales by major shareholders Abu Dhabi Investment Authority and Submarine Buyer LLC.

Jersey Mike's (NYSE:JMKE - Get Free Report) announced a special dividend on Monday, October 26th. Investors of record on Thursday, November 5th will be given a dividend of $0.35 per share on Thursday, November 19th. The ex-dividend date is Thursday, November 5th.

Jersey Mike's Stock Up 3.0%

Jersey Mike's stock opened at $18.85 on Tuesday. Jersey Mike's has a 1-year low of $15.96 and a 1-year high of $24.99. The firm has a fifty day simple moving average of $18.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.82 and a current ratio of 1.82.

Jersey Mike's (NYSE:JMKE - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.16 by $0.07. The business had revenue of $209.00 million for the quarter. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. Analysts anticipate that Jersey Mike's will post 0.65 earnings per share for the current fiscal year.

Insider Activity at Jersey Mike's

In related news, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $8,349,627.90. Following the completion of the transaction, the insider directly owned 35,732,138 shares in the company, valued at $780,747,215.30. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total value of $56,210,436.00. Following the transaction, the insider owned 143,699 shares of the company's stock, valued at approximately $3,139,823.15. The trade was a 94.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 5,527,254 shares of company stock valued at $120,770,500.

Jersey Mike's Company Profile

Jersey Mike's, commonly known as Jersey Mike's Subs, is a fast-casual restaurant company focused on submarine sandwiches and related food offerings. Its menu includes hot and cold subs, wraps, salads, beverages and desserts, with catering services also available at many locations.

The business operates primarily through a franchise-based model under the Jersey Mike's Subs brand. Restaurants are known for preparing sandwiches to order, including sliced meats and cheeses, fresh vegetables and the company's signature “Mike's Way” preparation.

Jersey Mike's traces its roots to 1956, when the original submarine shop opened in Point Pleasant, New Jersey.

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