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

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 increased its dividend by an average of 35.7% per year over the last three years. Spok has a payout ratio of 158.2% 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 $0.79 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 Spok stock opened at $16.54 on Friday. The business has a 50-day simple moving average of $15.33 and a 200 day simple moving average of $15.15. Spok has a one year low of $13.24 and a one year high of $18.14. The firm has a market capitalization of $335.27 million, a price-to-earnings ratio of 22.66 and a beta of 0.33.

Insider Activity at Spok

In related news, CEO Vincent D. Kelly sold 45,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.83, for a total value of $667,350.00. Following the completion of the sale, the chief executive officer now directly owns 201,645 shares of the company’s stock, valued at approximately $2,990,395.35. This represents a 18.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael W. Wallace sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 49,465 shares in the company, valued at approximately $732,082. This trade represents a 33.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.51% of the stock is owned by insiders.

Analysts Set New Price Targets

SPOK has been the topic of a number of research reports. StockNews.com raised 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 note on Thursday, September 26th. They set a “neutral” rating and a $15.00 price target for the company.

About Spok

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.