Dallas, Texas 09/27/2013 (Financialstrend) – A global fuel logistics company, World Fuel Services Corporation (NYSE:INT) primarily operates through Land segment, Marine segment and Aviation segment. As the name suggests – Land segment caters to land transportation market, Marine segment caters to a base of marine customers and Aviation segment serves to commercial airlines and cargo carriers, corporate fleets and airports. It serves to private players as well as to the United States and foreign governments. The company caters its services at more than 8000 locations worldwide sprawled across 200 countries and territories.
On September 19, 2013 the company filed SEC Form 8-K, Other Events mentioning that the President and Chief Executive Officer of the World Fuel Services Corporation (NYSE:INT), Michael J. Kasbar entered into the stock trading plan on September 13, 2013. The plan is pursuant to Securities and Exchange Act of 1934, Rule 10b5-1. As per the Plan, Michael Kasbar may sell around 17% of his holding – around 180K shares of the Company’s common stock beginning on November 5, 2013. The sales will be made under the plan for diversification and tax planning purposes alongside reducing the number of shares Michael Kasbar has pledged as collateral for a personal loan.
Moreover, the stock is trading ex-dividend since September 20, 2013 for the quarterly cash dividend of $0.0375 per share as mentioned on the company’s website. The dividend is scheduled to be paid on October 4, 2013. The annualized dividend yield counts around 0.4% at the current stock price of $37.39.
The stock has delivered over 8% negative returns year to date while traded in the 52 week range of $33.65 and $45.2. On Thursday, September 26, 2013 the stock gained over 1.41% that is $0.52 per share to close at $37.29. World Fuel Services Corporation (NYSE:INT) has total 72.77 million shares outstanding and market capitalization worth $2.71 billion.