ARKO Dips on Dividend Day as Fuel Margins Draw Scrutiny
Arko Corp. shares fell 4 cents to $7.79 Friday as its $0.03 dividend became payable and investors weighed first-quarter results showing a narrowed net loss of $5.6 million and 65% higher adjusted EBITDA. The company has converted 450 stores to wholesale, nearing its 500-store goal. ARKO Petroleum, spun off in February, rose nearly 1% to $19.30. Market cap for Arko stood at about $867 million.
