World Kinect Corporation Announces Quarterly Dividend of $0.23 (NYSE:WKC)

by · The Markets Daily

World Kinect Corporation (NYSE:WKC – Get Free Report) declared a quarterly dividend on Wednesday, September 16th. Shareholders of record on Monday, September 28th will be paid a dividend of 0.23 per share on Friday, October 16th. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, September 28th.

World Kinect has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 6 years. World Kinect has a payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect World Kinect to earn $2.56 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 35.9%.

World Kinect Stock Down 0.0%

WKC stock opened at $35.49 on Thursday. The stock has a market capitalization of $1.82 billion, a P/E ratio of -11.06, a price-to-earnings-growth ratio of 0.54 and a beta of 1.16. The company has a current ratio of 1.06, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. World Kinect has a 12 month low of $22.21 and a 12 month high of $41.20. The firm has a 50-day moving average price of $36.56 and a 200-day moving average price of $30.45.

World Kinect (NYSE:WKC – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.54. The company had revenue of $13.59 billion for the quarter, compared to analyst estimates of $10.50 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The firm’s revenue was up 50.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. As a group, equities research analysts anticipate that World Kinect will post 3.6 EPS for the current fiscal year.

Insider Buying and Selling at World Kinect

In other World Kinect news, Chairman Michael Kasbar sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $35.40, for a total value of $354,000.00. Following the completion of the transaction, the chairman directly owned 966,450 shares in the company, valued at approximately $34,212,330. This represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Manley sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $39.88, for a total transaction of $398,800.00. Following the transaction, the director directly owned 54,116 shares of the company’s stock, valued at $2,158,146.08. The trade was a 15.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 104,445 shares of company stock valued at $3,915,119. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WKC. Villanova Investment Management Co LLC increased its holdings in World Kinect by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 107,302 shares of the company’s stock worth $2,514,000 after acquiring an additional 434 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in World Kinect by 2.0% during the first quarter. Hsbc Holdings PLC now owns 25,390 shares of the company’s stock valued at $586,000 after purchasing an additional 489 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in World Kinect by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 29,862 shares of the company’s stock worth $689,000 after purchasing an additional 950 shares during the period. Caxton Associates LLP boosted its position in World Kinect by 2.6% during the first quarter. Caxton Associates LLP now owns 39,531 shares of the company’s stock worth $912,000 after purchasing an additional 991 shares during the period. Finally, Clearstead Advisors LLC increased its stake in shares of World Kinect by 108.8% in the fourth quarter. Clearstead Advisors LLC now owns 2,633 shares of the company’s stock worth $62,000 after purchasing an additional 1,372 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Company Profile

(Get Free Report)

World Kinect Corporation (NYSE: WKC) is an energy management company that provides fuel, energy and related services to customers in the aviation, marine and land transportation industries. Its offerings include the sourcing, marketing, distribution and delivery of conventional and alternative fuels, as well as energy procurement and risk-management solutions.

The company serves commercial airlines, business and general aviation operators, shipping companies, trucking and transportation businesses, government entities, utilities and other commercial customers.

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