Karooooo Ltd. (KARO) to Issue Annual Dividend of $1.50 on July 27th

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 dividend 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 dividend payout ratio of 72.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Karooooo to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 54.2%.

Karooooo Stock Up 1.2%

Shares of NASDAQ:KARO opened at $57.90 on Wednesday. Karooooo has a 1 year low of $41.25 and a 1 year high of $60.53. The firm’s 50-day moving average is $49.43 and its two-hundred day moving average is $48.51. The firm has a market capitalization of $1.79 billion, a PE ratio of 31.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.06 and a quick ratio of 1.05.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $0.45 EPS for the quarter. The company had revenue of $90.93 million during the quarter. Karooooo had a net margin of 18.07% and a return on equity of 31.26%. Analysts predict that Karooooo will post 2.37 EPS for the current year.

Institutional Investors Weigh In On Karooooo

Hedge funds have recently modified their holdings of the stock. Fideuram Asset Management Ireland dac acquired a new position in shares of Karooooo in the 4th quarter valued at about $80,000. Royal Bank of Canada lifted its position in Karooooo by 852.9% during the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock valued at $135,000 after buying an additional 2,644 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Karooooo during the second quarter worth approximately $156,000. New York State Common Retirement Fund increased its position in shares of Karooooo by 465.6% in the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock worth $160,000 after acquiring an additional 2,682 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Karooooo in the 2nd quarter valued at $214,000.

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.