Krispy Kreme, Inc. Announces Quarterly Dividend of $0.04 (NASDAQ:DNUT)

Krispy Kreme, Inc. (NASDAQ:DNUT) announced a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Shareholders of record on Wednesday, January 22nd will be given a dividend of 0.035 per share on Wednesday, February 5th. This represents a $0.14 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, January 22nd.

Krispy Kreme has increased its dividend payment by an average of 58.7% annually over the last three years. Krispy Kreme has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Krispy Kreme to earn $0.16 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 87.5%.

Krispy Kreme Price Performance

DNUT stock opened at $8.58 on Monday. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. Krispy Kreme has a one year low of $8.44 and a one year high of $17.84. The firm has a market capitalization of $1.46 billion, a PE ratio of 50.47, a P/E/G ratio of 1.97 and a beta of 1.36. The firm has a 50-day moving average of $10.12 and a two-hundred day moving average of $10.72.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Bank of America upped their price objective on shares of Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley began coverage on shares of Krispy Kreme in a research report on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 price target for the company. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.56.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.