Core-Mark Holding Company, Inc. (CORE) Plans Quarterly Dividend of $0.11

Core-Mark Holding Company, Inc. (NASDAQ:CORE) announced a quarterly dividend on Wednesday, November 7th, Wall Street Journal reports. Investors of record on Tuesday, November 20th will be paid a dividend of 0.11 per share by the business services provider on Friday, December 14th. This represents a $0.44 annualized dividend and a yield of 1.48%. The ex-dividend date is Monday, November 19th. This is an increase from Core-Mark’s previous quarterly dividend of $0.10.

Core-Mark has increased its dividend payment by an average of 22.3% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Core-Mark has a dividend payout ratio of 32.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Core-Mark to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 26.8%.

Core-Mark stock traded down $0.72 during trading on Wednesday, hitting $29.67. 847,800 shares of the company were exchanged, compared to its average volume of 394,718. Core-Mark has a 52 week low of $17.10 and a 52 week high of $40.12. The company has a market capitalization of $1.75 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.57. The company has a current ratio of 1.92, a quick ratio of 1.14 and a debt-to-equity ratio of 0.66.

Core-Mark (NASDAQ:CORE) last announced its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.17. Core-Mark had a return on equity of 9.56% and a net margin of 0.21%. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the company posted $0.37 earnings per share. Core-Mark’s revenue was down .9% compared to the same quarter last year. On average, analysts predict that Core-Mark will post 1.28 EPS for the current year.

Several equities research analysts recently issued reports on CORE shares. Loop Capital set a $41.00 price target on Core-Mark and gave the stock a “buy” rating in a report on Wednesday, September 26th. Zacks Investment Research upgraded Core-Mark from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday, September 28th. BidaskClub downgraded Core-Mark from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 18th. ValuEngine upgraded Core-Mark from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Raymond James downgraded Core-Mark from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $33.00 to $40.00 in a report on Friday, September 7th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $34.33.

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Core-Mark Company Profile

Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes various food/non-food products, including cigarettes, fast food, candies, snacks, groceries, fresh products, dairy products, breads, beverages, other tobacco products, general merchandise and equipment, and health and beauty care products.

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Dividend History for Core-Mark (NASDAQ:CORE)

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