World Kinect Corporation (NYSE:WKC) Declares Dividend Increase - $0.23 Per Share

Key Points

• World Kinect declared a quarterly dividend of $0.23 per share, payable on July 16 to shareholders of record on June 30, with the ex-dividend date also set for June 30.
• The new payout is a 15% increase from the prior quarterly dividend of $0.20 and implies an annualized dividend yield of about 3.0%.
• The company’s dividend appears covered by earnings, with a 27% payout ratio, and analysts expect World Kinect to continue supporting the dividend based on projected future earnings.

World Kinect Corporation (NYSE:WKC - Get Free Report) declared a quarterly dividend on Thursday, June 18th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.23 per share on Thursday, July 16th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 15.0% increase from World Kinect's previous quarterly dividend of $0.20.

World Kinect has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 6 consecutive years. World Kinect has a dividend payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect World Kinect to earn $2.43 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 32.9%.

World Kinect Price Performance

Shares of WKC opened at $31.04 on Friday. The company's 50-day moving average is $27.61 and its 200-day moving average is $25.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.05 and a quick ratio of 0.87. The firm has a market capitalization of $1.59 billion, a PE ratio of -3.04, a PEG ratio of 0.64 and a beta of 1.22. World Kinect has a fifty-two week low of $22.21 and a fifty-two week high of $32.24.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.31 by $0.44. World Kinect had a negative net margin of 1.53% and a positive return on equity of 8.27%. The business had revenue of $9.69 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. World Kinect's revenue was up 2.5% compared to the same quarter last year. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. Equities analysts forecast that World Kinect will post 2.79 EPS for the current year.

Insider Buying and Selling at World Kinect

In other World Kinect news, Director Richard A. Kassar sold 10,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $26.97, for a total value of $269,700.00. Following the completion of the sale, the director owned 53,812 shares of the company's stock, valued at $1,451,309.64. The trade was a 15.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Michael J. Kasbar sold 23,653 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $28.18, for a total transaction of $666,541.54. Following the transaction, the chairman owned 1,062,797 shares in the company, valued at approximately $29,949,619.46. The trade was a 2.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 97,928 shares of company stock valued at $2,773,265 in the last three months. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On World Kinect

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in shares of World Kinect by 2.2% in the first quarter. Royal Bank of Canada now owns 68,228 shares of the company's stock valued at $1,934,000 after buying an additional 1,481 shares during the period. AQR Capital Management LLC grew its position in World Kinect by 16.5% during the first quarter. AQR Capital Management LLC now owns 119,198 shares of the company's stock worth $3,380,000 after buying an additional 16,874 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in World Kinect by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company's stock worth $963,000 after acquiring an additional 1,497 shares during the period. Millennium Management LLC increased its stake in World Kinect by 3.3% during the 1st quarter. Millennium Management LLC now owns 525,697 shares of the company's stock worth $14,909,000 after acquiring an additional 16,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in World Kinect by 18.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company's stock valued at $6,262,000 after acquiring an additional 34,807 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Company Profile

World Kinect Energy Services, Inc NYSE: WKC is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.

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.