World Fuel Services hikes dividend by 16.7%

On September 13, 2022, World Fuel Services Corporation (INT) declared a new quarterly dividend of 14 cents per share, up 16.7% from the previous quarterly dividend. This is the second dividend hike by the global energy management company since 2015.

The next INT dividend will be payable on October 7, 2022 to shareholders of record on September 23, 2022. A new annual rate of 56 cents per share yields 2,3% at a stock price of $24.54.

“Today’s announcement is a reflection of our confidence in the rapidly evolving growth opportunities of our business and related cash generation,” said Ira M. Birns, executive vice president and chief financial officer. “Our disciplined approach to capital allocation demonstrates our commitment to generating long-term value for our shareholders.”

Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.