Spok Holdings, Inc. (NASDAQ:SPOK) Shares Will Pay Quarterly Dividend of $0.31

Key Points

• Spok declared a quarterly dividend of $0.3125 per share, payable December 9 to shareholders of record on November 18. The annualized dividend is $1.25 per share, representing a 12.3% yield.
• The dividend payout ratio is 158.2%, indicating Spok’s earnings do not currently fully cover its dividend and the company is relying on its balance sheet to fund payments.
• Spok reported quarterly EPS of $0.46, beating estimates of $0.16, while revenue of $33.0 million fell short of the $34.7 million consensus forecast. Shares opened at $10.18, near the company’s 52-week low.

Spok Holdings, Inc. (NASDAQ:SPOK - Get Free Report) declared a quarterly dividend on Wednesday, October 28th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $0.3125 per share by the Wireless communications provider on Wednesday, December 9th. This represents a $1.25 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date is Wednesday, November 18th.

Spok has increased its dividend by an average of 0.2% annually over the last three years. Spok has a dividend payout ratio of 158.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Spok Stock Up 0.7%

Shares of Spok stock opened at $10.18 on Thursday. The firm has a market cap of $212.95 million, a PE ratio of 17.55 and a beta of 0.47. The business's fifty day simple moving average is $10.57 and its 200-day simple moving average is $11.30. Spok has a 52 week low of $9.95 and a 52 week high of $16.34.

Spok (NASDAQ:SPOK - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The Wireless communications provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.16 by $0.30. Spok had a return on equity of 8.50% and a net margin of 9.00%. The business had revenue of $33.00 million during the quarter, compared to analyst estimates of $34.70 million.

Insider Buying and Selling

In other Spok news, Director Christine Cournoyer sold 8,320 shares of Spok stock in a transaction on Monday, August 10th. The shares were sold at an average price of $11.28, for a total value of $93,849.60. Following the transaction, the director owned 16,261 shares in the company, valued at $183,424.08. This trade represents a 33.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.28% of the stock is owned by company insiders.

Institutional Trading of Spok

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of Spok in the 2nd quarter worth about $2,397,000. Triumph Capital Management boosted its position in Spok by 36.2% during the 3rd quarter. Triumph Capital Management now owns 6,771 shares of the Wireless communications provider's stock worth $71,000 after acquiring an additional 1,800 shares during the period. Amundi bought a new position in Spok in the 2nd quarter valued at about $125,000. Public Employees Retirement System of Ohio acquired a new position in shares of Spok during the second quarter valued at approximately $213,000. Finally, Redhawk Wealth Advisors Inc. raised its stake in shares of Spok by 89.0% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 19,155 shares of the Wireless communications provider's stock worth $196,000 after buying an additional 9,021 shares in the last quarter. 50.81% of the stock is owned by hedge funds and other institutional investors.

About Spok

Spok Holdings, Inc is a healthcare communications technology company that provides software and services designed to help healthcare organizations manage critical information and coordinate clinical workflows. Its customers include hospitals, health systems, integrated delivery networks, government agencies and other organizations that require reliable communication for patient care and operational activities.

The company's offerings include secure messaging, clinical alerting, on-call scheduling, smartphone and mobile communications, operator console and contact-center capabilities, and workflow automation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.