PHILADELPHIA - Aramark (NYSE: ARMK), a global provider of food, facilities, and uniform services, announced that its Board of Directors has declared a quarterly dividend of 9.5 cents per share on the company's common stock. The dividend is payable on May 28, 2024, to shareholders of record at the close of business on May 13, 2024.
The company, known for serving a wide range of clients including educational institutions, healthcare providers, and sports teams, operates in 15 countries. Aramark's commitment to service has been recognized by various organizations, earning spots on lists like FORTUNE's World's Most Admired Companies and Newsweek's America's Most Responsible Companies 2024.
Aramark's latest dividend declaration is a routine part of its financial operations, reflecting its ongoing commitment to returning value to its stockholders.
The information regarding the dividend is based on a press release statement from the company.
InvestingPro Insights
As Aramark (NYSE: ARMK) continues to distribute dividends to its shareholders, investors are keeping a close eye on the company's financial health and market performance. According to real-time data from InvestingPro, Aramark has a market capitalization of approximately $8.49 billion, reflecting its substantial presence in the service industry. The company's P/E ratio stands at 13.44, which suggests that investors may find the stock's current valuation attractive compared to its earnings. Additionally, Aramark's revenue has grown by 18.76% over the last twelve months as of Q1 2024, indicating a robust expansion in its business operations.
Moreover, an InvestingPro Tip highlights Aramark as a prominent player in the Hotels, Restaurants & Leisure industry, which aligns with the company's extensive portfolio of services across various sectors. However, another InvestingPro Tip points out that Aramark suffers from weak gross profit margins, with a gross profit margin of 16.16% over the last twelve months as of Q1 2024. This could be a concern for investors focused on profitability and cost management.
For those seeking further insights, InvestingPro offers additional tips on Aramark, including expectations around net income, stock price volatility, and dividend history. With a total of seven additional InvestingPro Tips available, investors can gain a more comprehensive understanding of Aramark's financial outlook. To access these insights and make more informed investment decisions, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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