FAT Brands Inc. (NASDAQ:FAT) announced a quarterly dividend on Tuesday, June 1st, Zacks reports. Stockholders of record on Monday, June 14th will be given a dividend of 0.13 per share on Monday, June 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Friday, June 11th. This is a positive change from FAT Brands’s previous quarterly dividend of $0.12.
FAT Brands has a payout ratio of 133.3% 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 $0.52 per share next year, which means the company may not be able to cover its $0.52 annual dividend with an expected future payout ratio of 100.0%.
NASDAQ:FAT traded up $0.26 during mid-day trading on Wednesday, hitting $12.00. 757 shares of the stock were exchanged, compared to its average volume of 33,825. The stock has a market cap of $146.76 million, a PE ratio of -9.39 and a beta of 2.08. The stock’s 50-day moving average price is $9.41. FAT Brands has a fifty-two week low of $2.56 and a fifty-two week high of $11.81.
Separately, Zacks Investment Research lowered FAT Brands from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 20th.
About FAT Brands
FAT Brands Inc, a multi-brand franchising company, acquires, develops, and markets quick-service, fast casual, and casual dining restaurant concepts worldwide. As of March 28, 2021, it owned nine restaurant brands, including Fatburger, Johnny Rockets, Buffalo's Cafe, Buffalo's Express, Ponderosa Steakhouse, Bonanza Steakhouse, Hurricane Grill & Wings, Yalla Mediterranean, and Elevation Burger, as well as franchised approximately 700 locations.
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