SpartanNash (NASDAQ:SPTN) to Issue Dividend Increase – $0.22 Per Share

SpartanNash (NASDAQ:SPTN) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Stockholders of record on Friday, March 21st will be given a dividend of 0.22 per share on Wednesday, April 2nd. This represents a $0.88 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, March 21st. This is a 1.1% increase from SpartanNash’s previous quarterly dividend of $0.22.

SpartanNash has raised its dividend by an average of 2.8% annually over the last three years and has raised its dividend every year for the last 15 years. SpartanNash has a payout ratio of 48.6% meaning its dividend is sufficiently covered by earnings. Analysts expect SpartanNash to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 48.9%.

SpartanNash Trading Up 0.7 %

SpartanNash stock opened at $20.37 on Wednesday. The stock has a market capitalization of $687.79 million, a PE ratio of -2,037.00 and a beta of 0.34. SpartanNash has a 12-month low of $17.30 and a 12-month high of $23.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.78. The firm has a 50 day simple moving average of $19.12 and a 200-day simple moving average of $19.88.

SpartanNash (NASDAQ:SPTN) last issued its earnings results on Wednesday, February 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, equities research analysts expect that SpartanNash will post 1.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SPTN shares. StockNews.com upgraded shares of SpartanNash from a “hold” rating to a “buy” rating in a report on Tuesday. Northcoast Research cut shares of SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Wednesday, February 19th.

About SpartanNash

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.