FAT Brands Inc. Declares Quarterly Dividend of $0.14 (NASDAQ:FAT)

FAT Brands Inc. (NASDAQ:FAT) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.14 per share on Friday, November 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 10.49%. The ex-dividend date of this dividend is Friday, November 15th.

FAT Brands has a payout ratio of -10.7% meaning 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 ($6.79) per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of -8.2%.

FAT Brands Trading Up 0.8 %

Shares of NASDAQ:FAT opened at $5.34 on Thursday. The company has a market capitalization of $84.01 million, a price-to-earnings ratio of -0.87 and a beta of 1.81. The firm’s 50-day moving average is $4.99 and its 200 day moving average is $5.45. FAT Brands has a 12 month low of $4.51 and a 12 month high of $9.48.

FAT Brands (NASDAQ:FAT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($2.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.00) by ($0.43). The company had revenue of $152.04 million during the quarter, compared to analysts’ expectations of $156.35 million. During the same period in the prior year, the company earned ($0.53) earnings per share. As a group, equities analysts forecast that FAT Brands will post -8.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark Elenowitz purchased 6,200 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $68,200.00. Following the completion of the acquisition, the director now owns 9,200 shares in the company, valued at approximately $101,200. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 9,564 shares of company stock worth $97,897 over the last quarter. Company insiders own 11.84% of the company’s stock.

About FAT Brands

FAT Brands Inc, a multi-brand restaurant franchising company, acquires, develops, markets, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. It owns restaurant brands, including Round Table Pizza, Marble Slab Creamery, Great American Cookies, Hot Dog on a Stick, Pretzelmaker, Fazoli's, Fatburger, Johnny Rockets, Elevation Burger, Yalla Mediterranean, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Ponderosa Steakhouse/Bonanza Steakhouse, Native Grill & Wings, Smokey Bones, and Twin Peaks.