Core-Mark Holding Co., Inc. : CORE-US: Dividend Analysis : November 28th, 2017 (record date) : By the numbers : November 29, 2017

Our analysis is based on comparing Core-Mark Holding Co., Inc. with the following peers – Sysco Corporation, G. Willi-Food International Ltd, AMCON Distributing Company, Chefs’ Warehouse, Inc., SpartanNash Company, United Natural Foods, Inc. and SUPERVALU INC. (SYY-US, WILC-US, DIT-US, CHEF-US, SPTN-US, UNFI-US and SVU-US).

Dividend Yield
Dividend Quality Score

Dividend Quality Overview

  • Over the last twelve months (prior to September 30, 2017), CORE-US paid a medium quality dividend, which represents a yield of 1.15% at the current price.
  • Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 2 were high quality, 2 were medium quality and 1 was low quality.
  • The ending cash balance, with a dividend coverage of 3.32x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

Over the last twelve months (prior to September 30, 2017), CORE-US paid a medium quality dividend.

The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 4.12x), investing cash flow (coverage of -13.62x), issuance cash flow (coverage of 11.98x) and twelve-month prior cash (coverage of 1.85x), for a total dividend coverage of 4.32x.

CORE-US’s issuance cash flow includes outflows from net share buybacks (coverage of -0.32x). Thus, the total coverage including share buybacks is 4.64x, which reflects our assumption that the cash paid for share buybacks is discretionary and could instead be used to pay dividends.

Dividend Coverage by Cash Flow (TTM)

These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.

Dividend History

Item 2012-12-31 2013-12-31 2014-12-31 2015-12-31 2016-12-31 Latest
Dividend Yield (%) 1.9 0.91 0.75 0.68 0.78 1.18
Dividend Payout (%) 23.95 22.03 25.14 24.89 28.21 40.08

A complete list of metrics and analysis is available on the company page.

Company Profile

Core-Mark Holding Co., Inc. engages in distributing and marketing of consumer goods. The company provides sales, marketing, distribution and logistics services across the U.S. and Canada. It offers products, marketing programs and technology solutions to customer locations across the U.S. and Canada. The company’s customers include traditional convenience stores, drug, grocery and specialty stores and other small format retailers that sell consumer packaged goods. Its product offering includes fast food, candy, snacks, groceries, fresh products, dairy, bread, beverages, other tobacco products, general merchandise and health and beauty care products. Core-Mark Holding was founded in 1888 and is headquartered in South San Francisco, CA.


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