Spok Holdings, Inc. (NASDAQ:SPOK) to Issue $0.31 Quarterly Dividend

Spok Holdings, Inc. (NASDAQ:SPOK) announced 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 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% annually over the last three years. Spok has a dividend 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. Research 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 Up 4.3 %

Shares of NASDAQ:SPOK opened at $15.57 on Friday. The business has a 50 day moving average price of $14.96 and a 200 day moving average price of $15.06. Spok has a twelve month low of $13.24 and a twelve month high of $18.14. The company has a market cap of $315.51 million, a price-to-earnings ratio of 21.33 and a beta of 0.33.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. B. Riley started coverage on Spok in a research report on Thursday, September 26th. They set a “neutral” rating and a $15.00 price objective on the stock. StockNews.com upgraded shares of Spok from a “hold” rating to a “buy” rating in a research note on Friday, October 25th.

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.