Karooooo Ltd. (NASDAQ:KARO) Announces Dividend Increase – $1.50 Per Share

Karooooo Ltd. (NASDAQ:KARO) announced an annual dividend on Wednesday, May 13th. Investors of record on Friday, July 17th will be given a dividend of 1.50 per share on Monday, July 27th. This represents a yield of 347.0%. The ex-dividend date of this dividend is Friday, July 17th. This is a 20.0% increase from Karooooo’s previous annual dividend of $1.25.

Karooooo has a payout ratio of 60.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Karooooo to earn $2.24 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 55.8%.

Karooooo Stock Down 8.8%

NASDAQ KARO traded down $4.18 during trading hours on Thursday, reaching $43.29. 146,007 shares of the company’s stock were exchanged, compared to its average volume of 59,998. The company’s 50-day moving average is $48.93 and its two-hundred day moving average is $47.21. Karooooo has a one year low of $41.25 and a one year high of $63.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 23.40 and a beta of 0.92.

Karooooo (NASDAQ:KARO) last posted its earnings results on Tuesday, April 14th. The company reported $0.45 earnings per share (EPS) for the quarter. Karooooo had a return on equity of 31.83% and a net margin of 19.45%.The business had revenue of $90.93 million during the quarter. On average, analysts forecast that Karooooo will post 2.05 EPS for the current fiscal year.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.