Grupo Aeroportuario del Sureste, S.A. de C.V. (NYSE:ASR) Declares $8.04 Special Dividend

Key Points

• Grupo Aeroportuario del Sureste, S.A. de C.V. has declared a special dividend of $8.04 per share, payable on October 10th to investors of record by September 29th.
• The company has a concerning payout ratio of 101.0%, indicating it is relying on its balance sheet to cover dividend payments, while the anticipated future payout ratio could rise to 111.4%.
• Shares of Grupo Aeroportuario del Sureste have a market capitalization of $9.79 billion and are currently rated with a consensus "Hold" rating and a target price of $310.00.

Grupo Aeroportuario del Sureste, S.A. de C.V. (NYSE:ASR - Get Free Report) announced a special dividend on Thursday, August 28th. Shareholders of record on Monday, September 29th will be given a dividend of 8.0427 per share by the transportation company on Friday, October 10th. This represents a yield of 920.0%. The ex-dividend date of this dividend is Monday, September 29th.

Grupo Aeroportuario del Sureste has a payout ratio of 101.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Grupo Aeroportuario del Sureste to earn $22.08 per share next year, which means the company may not be able to cover its $24.59 annual dividend with an expected future payout ratio of 111.4%.

Grupo Aeroportuario del Sureste Price Performance

ASR traded up $5.70 during trading on Tuesday, reaching $331.41. The stock had a trading volume of 72,519 shares, compared to its average volume of 82,109. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 8.34 and a beta of 0.76. The company has a quick ratio of 5.16, a current ratio of 5.16 and a debt-to-equity ratio of 0.18. Grupo Aeroportuario del Sureste has a 1-year low of $248.88 and a 1-year high of $360.00. The stock has a 50 day moving average of $314.90 and a two-hundred day moving average of $304.26.

Grupo Aeroportuario del Sureste (NYSE:ASR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The transportation company reported $3.80 earnings per share for the quarter, missing analysts' consensus estimates of $6.01 by ($2.21). The firm had revenue of $464.62 million during the quarter, compared to analyst estimates of $8.98 billion. Grupo Aeroportuario del Sureste had a return on equity of 19.91% and a net margin of 37.14%. As a group, equities analysts anticipate that Grupo Aeroportuario del Sureste will post 23 EPS for the current fiscal year.

Grupo Aeroportuario del Sureste Company Profile

Grupo Aeroportuario del Sureste, S. A. B. de C. V. holds concessions to operate, maintain, and develop airports in the southeast region of Mexico. The company operates airports that are located in the cities of Cancún, Cozumel, Mérida, Huatulco, Oaxaca, Veracruz, Villahermosa, Tapachula, and Minatitlán.