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.
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.
COPYRIGHT VIOLATION WARNING: This piece was reported by WKRB News and is the property of of WKRB News. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.wkrb13.com/2018/11/07/core-mark-holding-company-inc-core-plans-quarterly-dividend-of-0-11.html.
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.
Read More: Fundamental Analysis and Choosing Stocks
Receive News & Ratings for Core-Mark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core-Mark and related companies with MarketBeat.com's FREE daily email newsletter.