Karooooo Ltd. (NASDAQ:KARO) to Issue Annual Dividend of $1.50

Karooooo Ltd. (NASDAQ:KARO – Get Free Report) announced an annual dividend on Wednesday, May 13th. Shareholders 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 is Friday, July 17th. This is a 20.0% increase from Karooooo’s previous annual dividend of $1.25.

Karooooo has a dividend payout ratio of 60.4% meaning 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%.

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Karooooo Stock Performance

Shares of KARO stock traded down $4.81 on Thursday, hitting $42.66. 156,234 shares of the stock were exchanged, compared to its average volume of 60,147. The firm’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 firm has a market capitalization of $1.32 billion, a PE ratio of 23.05 and a beta of 0.92. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06.

Karooooo (NASDAQ:KARO – Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported $0.45 EPS for the quarter. Karooooo had a net margin of 19.45% and a return on equity of 31.83%. The business had revenue of $90.93 million for the quarter. Sell-side analysts expect that Karooooo will post 2.05 earnings per share for the current fiscal year.

About Karooooo

(Get Free Report)

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.

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