FAT Brands Inc. Announces Quarterly Dividend of $0.14 (NASDAQ:FAT)

FAT Brands Inc. (NASDAQ:FAT) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.14 per share on Friday, November 29th. This represents a $0.56 annualized dividend and a dividend yield of 10.04%. The ex-dividend date is Friday, November 15th.

FAT Brands has a payout ratio of -8.3% 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 FAT Brands to earn ($6.79) per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of -8.2%.

FAT Brands Trading Up 2.0 %

NASDAQ FAT opened at $5.58 on Wednesday. FAT Brands has a 1 year low of $4.51 and a 1 year high of $9.48. The company has a fifty day moving average price of $5.02 and a 200-day moving average price of $5.32.

FAT Brands (NASDAQ:FAT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($2.74) earnings per share for the quarter, missing the consensus estimate of ($1.88) by ($0.86). The company had revenue of $143.37 million for the quarter, compared to the consensus estimate of $159.85 million. During the same period in the prior year, the firm posted ($1.59) EPS. Equities research analysts forecast that FAT Brands will post -10.23 EPS for the current year.

Insider Activity at FAT Brands

In other FAT Brands news, Director Mark Elenowitz acquired 6,200 shares of the company’s stock in a transaction on Monday, August 26th. The shares were acquired at an average cost of $11.00 per share, with a total value of $68,200.00. Following the completion of the acquisition, the director now directly owns 9,200 shares in the company, valued at $101,200. This trade represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders purchased 8,544 shares of company stock worth $86,198. 11.84% of the stock is owned by company insiders.

About FAT Brands

FAT Brands Inc, a multi-brand restaurant franchising company, acquires, develops, markets, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. It owns restaurant brands, including Round Table Pizza, Marble Slab Creamery, Great American Cookies, Hot Dog on a Stick, Pretzelmaker, Fazoli's, Fatburger, Johnny Rockets, Elevation Burger, Yalla Mediterranean, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Ponderosa Steakhouse/Bonanza Steakhouse, Native Grill & Wings, Smokey Bones, and Twin Peaks.