World Fuel Services declares quarterly cash dividend

Dividend payout is in line with the amount paid since April 2015.

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Updated on 04 Dec 2017 08:55 GMT

Marine, aviation and land fuel specialist, World Fuel Services Corporation, has announced that its board of directors has declared a quarterly cash dividend of $0.06 per share, payable on January 5, 2018, to shareholders of record on December 15, 2017.

The payout is in line with the amount that has been paid every quarter since the company's board of directors boosted the quarterly cash dividend by 60 percent to $0.06 per share on April 10, 2015 (to shareholders of record on March 20, 2015).

Prior to the dividend increase in 2015, World Fuel Services had paid a quarterly cash dividend of $0.0375 per share in every quarter between 2005 and 2014 - apart from the first, second and third quarters of 2009, when a payment of $0.075 per share was made to shareholders.

A summary of the dividend history of World Fuel Services is provided in the link below.

Last quarter

During the third quarter of 2017, World Fuel Services posted a net loss of $38.5 million, or $0.57 diluted loss per share, which included a non-cash accounting charge of $76.9 million relating to a U.S. deferred tax valuation allowance (DTA).

The company's marine segment generated a gross profit of $30.5 million, which was a decrease of $6.8 million, or 18.2 percent, year-on-year (YoY).