Speedway Motorsports, Inc. (TRK) to Issue Quarterly Dividend of $0.15

Speedway Motorsports, Inc. (NYSE:TRK) announced a quarterly dividend on Thursday, April 20th. Stockholders of record on Monday, May 15th will be given a dividend of 0.15 per share on Monday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, May 11th.

Speedway Motorsports has a dividend payout ratio of 61.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Speedway Motorsports to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 60.0%.

Speedway Motorsports (NYSE:TRK) last released its quarterly earnings results on Friday, April 28th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.02. Speedway Motorsports had a net margin of 6.93% and a return on equity of 4.92%. The business had revenue of $80.33 million during the quarter.

Dividend History for Speedway Motorsports (NYSE:TRK)

A number of research firms have commented on TRK. Macquarie cut Speedway Motorsports from a “neutral” rating to an “underperform” rating in a research note on Friday, March 3rd. Zacks Investment Research cut Speedway Motorsports from a “hold” rating to a “sell” rating in a research note on Saturday, March 4th.

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Several hedge funds and other institutional investors have recently made changes to their positions in TRK. Teachers Advisors LLC boosted its position in shares of Speedway Motorsports by 1.1% in the first quarter. Teachers Advisors LLC now owns 30,195 shares of the company’s stock valued at $569,000 after buying an additional 329 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Speedway Motorsports by 60.1% in the first quarter. Goldman Sachs Group Inc. now owns 31,063 shares of the company’s stock valued at $585,000 after buying an additional 11,665 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Speedway Motorsports by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 44,140 shares of the company’s stock valued at $832,000 after buying an additional 2,223 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Speedway Motorsports by 3.5% in the first quarter. Geode Capital Management LLC now owns 98,045 shares of the company’s stock valued at $1,847,000 after buying an additional 3,270 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Speedway Motorsports by 4.0% in the first quarter. Vanguard Group Inc. now owns 973,947 shares of the company’s stock valued at $18,349,000 after buying an additional 37,153 shares during the last quarter. Hedge funds and other institutional investors own 22.34% of the company’s stock.

Speedway Motorsports Company Profile

Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.

12 Month Chart for NYSE:TRK

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