World Fuel Services declares quarterly cash dividend

Dividend is in line with recent payouts.

Image credit: World Fuel Services

Updated on 25 May 2018 07:15 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 July 6, 2018, to shareholders of record on June 8, 2018.

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 can be found by clicking here.

Last quarter

During the first quarter of 2018, World Fuel Services posted a net income of $31.1 million, which was almost exactly the same result as last year's $31.3m result.

Revenue during the January-March period increased year-on-year (YoY) by $987m, or 12.0 percent, to $9,181.3m, whilst gross profit grew by $12m, or 5.2 percent, to $243.4m.