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

Spok Holdings, Inc. (NASDAQ:SPOK) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.313 per share by the Wireless communications provider on Monday, December 9th. This represents a $1.25 annualized dividend and a dividend yield of 7.57%. The ex-dividend date is Monday, November 18th.

Spok has raised its dividend by an average of 35.7% annually over the last three years. Spok has a payout ratio of 158.2% meaning 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 $0.79 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 158.2%.

Spok Price Performance

Shares of NASDAQ:SPOK opened at $16.54 on Friday. The business’s 50 day simple moving average is $15.33 and its 200 day simple moving average is $15.15. Spok has a 1 year low of $13.24 and a 1 year high of $18.14. The company has a market capitalization of $335.27 million, a P/E ratio of 22.66 and a beta of 0.33.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. B. Riley assumed coverage on Spok in a report on Thursday, September 26th. They set a “neutral” rating and a $15.00 target price 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.

Insider Buying and Selling

In other news, COO Michael W. Wallace sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $732,082. This trade represents a 33.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent D. Kelly sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.83, for a total transaction of $667,350.00. Following the transaction, the chief executive officer now owns 201,645 shares of the company’s stock, valued at approximately $2,990,395.35. This represents a 18.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.51% of the stock is currently owned by company insiders.

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.