Spok Holdings, Inc. (SPOK) to Issue Quarterly Dividend of $0.31 on December 9th

Spok Holdings, Inc. (NASDAQ:SPOK) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Monday, November 18th will be given a dividend of 0.313 per share by the Wireless communications provider on Monday, December 9th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 8.04%. The ex-dividend date of this dividend is Monday, November 18th.

Spok has increased its dividend by an average of 35.7% per year over the last three years. Spok has a payout ratio of 143.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Spok to earn $0.87 per share next year, which means the company may not be able to cover its $1.25 annual dividend with an expected future payout ratio of 143.7%.

Spok Stock Performance

NASDAQ SPOK opened at $15.57 on Friday. Spok has a 52 week low of $13.24 and a 52 week high of $18.14. The stock’s 50 day moving average price is $14.96 and its two-hundred day moving average price is $15.06. The stock has a market capitalization of $315.51 million, a price-to-earnings ratio of 21.33 and a beta of 0.33.

Insider Buying and Selling at Spok

In other Spok news, COO Michael W. Wallace sold 25,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total value of $370,000.00. Following the transaction, the chief operating officer now directly owns 49,465 shares of the company’s stock, valued at $732,082. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Vincent D. Kelly sold 45,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.83, for a total transaction of $667,350.00. Following the transaction, the chief executive officer now directly owns 201,645 shares of the company’s stock, valued at approximately $2,990,395.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael W. Wallace sold 25,000 shares of Spok stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $14.80, for a total transaction of $370,000.00. Following the completion of the sale, the chief operating officer now owns 49,465 shares of the company’s stock, valued at $732,082. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com raised shares of Spok from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. B. Riley assumed coverage on shares of Spok in a research report on Thursday, September 26th. They set a “neutral” rating and a $15.00 price target on the stock.

Spok Company Profile

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company's products and services enhance workflows for clinicians and support administrative compliance. It delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager.