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

SpartanNash (NASDAQ:SPTN) announced a quarterly dividend on Tuesday, March 11th, RTT News reports. Investors 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 yield of 4.46%. This is a 1.1% increase from SpartanNash’s previous quarterly dividend of $0.22.

SpartanNash has increased its dividend by an average of 2.8% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. SpartanNash has a payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect SpartanNash to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.87 annual dividend with an expected future payout ratio of 48.3%.

SpartanNash Stock Performance

SPTN stock traded down $0.09 during trading on Wednesday, reaching $19.72. 29,627 shares of the company’s stock were exchanged, compared to its average volume of 270,210. SpartanNash has a 1-year low of $17.30 and a 1-year high of $23.00. The firm has a market cap of $665.85 million, a PE ratio of -1,973.00 and a beta of 0.34. The company’s fifty day moving average price is $18.93 and its 200-day moving average price is $19.94. The company has a quick ratio of 0.78, a current ratio of 1.57 and a debt-to-equity ratio of 1.00.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.09. During the same quarter last year, the company posted $0.35 earnings per share. On average, research analysts expect that SpartanNash will post 1.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPTN has been the topic of a number of research analyst reports. StockNews.com lowered shares of SpartanNash from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Northcoast Research cut SpartanNash from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research 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.