International Speedway Co. (ISCA) Increases Dividend to $0.47 Per Share

International Speedway Co. (NASDAQ:ISCA) announced an annual dividend on Thursday, April 12th, Zacks reports. Stockholders of record on Thursday, May 31st will be paid a dividend of 0.47 per share on Friday, June 29th. This represents a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, May 30th. This is a positive change from International Speedway’s previous annual dividend of $0.43.

International Speedway has increased its dividend payment by an average of 21.5% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. International Speedway has a payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Speedway to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 20.0%.

Shares of International Speedway stock opened at $40.15 on Friday. The stock has a market cap of $1,770.57, a PE ratio of 23.15, a price-to-earnings-growth ratio of 3.26 and a beta of 1.23. International Speedway has a 1-year low of $32.25 and a 1-year high of $47.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.62 and a quick ratio of 2.62.

International Speedway (NASDAQ:ISCA) last issued its earnings results on Tuesday, April 3rd. The company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. The company had revenue of $148.90 million during the quarter, compared to the consensus estimate of $151.88 million. International Speedway had a return on equity of 5.25% and a net margin of 38.51%. International Speedway’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. analysts predict that International Speedway will post 2 EPS for the current fiscal year.

Several research firms have recently commented on ISCA. BidaskClub cut shares of International Speedway from a “sell” rating to a “strong sell” rating in a report on Saturday, April 7th. Zacks Investment Research lowered shares of International Speedway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Finally, Citigroup boosted their target price on shares of International Speedway from $31.00 to $40.00 and gave the stock a “sell” rating in a research report on Tuesday, February 6th.

In other International Speedway news, COO John R. Saunders sold 2,500 shares of the company’s stock in a transaction dated Friday, April 6th. The shares were sold at an average price of $40.54, for a total transaction of $101,350.00. Following the sale, the chief operating officer now directly owns 46,130 shares of the company’s stock, valued at $1,870,110.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 43.06% of the company’s stock.

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About International Speedway

International Speedway Corporation, together with its subsidiaries, promotes motorsports themed entertainment activities in the United States. Its motorsports themed event operations consist principally of racing events at its motorsports entertainment facilities, which promote approximately 100 stock car, open wheel, sports car, truck, motorcycle, and other racing events.

Dividend History for International Speedway (NASDAQ:ISCA)

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