Algoma Steel Group Inc. (NASDAQ:ASTL) Plans $0.05 Quarterly Dividend

Algoma Steel Group Inc. (NASDAQ:ASTL) announced a quarterly dividend on Monday, June 24th, Zacks reports. Stockholders of record on Tuesday, July 2nd will be given a dividend of 0.05 per share on Friday, July 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, July 2nd.

Algoma Steel Group Price Performance

Shares of ASTL stock traded up $0.11 during mid-day trading on Monday, reaching $7.11. The company’s stock had a trading volume of 654,160 shares, compared to its average volume of 527,142. The firm’s 50-day moving average is $7.68 and its two-hundred day moving average is $8.28. The company has a market cap of $740.31 million, a P/E ratio of 22.97 and a beta of 1.51. Algoma Steel Group has a 1-year low of $6.34 and a 1-year high of $10.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 2.88.

Algoma Steel Group (NASDAQ:ASTL) last posted its quarterly earnings results on Saturday, June 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. The firm had revenue of $460.35 million during the quarter, compared to analyst estimates of $439.82 million. Algoma Steel Group had a net margin of 3.81% and a return on equity of 6.97%. During the same quarter in the prior year, the business posted ($0.14) earnings per share. On average, research analysts predict that Algoma Steel Group will post 0.73 earnings per share for the current year.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.