Algoma Central Co. (TSE:ALC) to Issue $0.19 Quarterly Dividend

Algoma Central Co. (TSE:ALC) declared a quarterly dividend on Friday, August 2nd, Zacks reports. Stockholders of record on Tuesday, August 20th will be given a dividend of 0.19 per share on Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend is Tuesday, August 20th.

Algoma Central Stock Down 3.8 %

Shares of Algoma Central stock traded down C$0.56 on Friday, hitting C$14.26. The company had a trading volume of 35,375 shares, compared to its average volume of 12,611. The firm has a market capitalization of C$563.56 million, a P/E ratio of 6.89 and a beta of 0.72. Algoma Central has a twelve month low of C$14.07 and a twelve month high of C$15.75. The company has a debt-to-equity ratio of 56.05, a current ratio of 0.58 and a quick ratio of 2.06. The stock has a 50-day moving average of C$14.26 and a 200-day moving average of C$14.65.

Algoma Central (TSE:ALC) last announced its earnings results on Wednesday, May 1st. The company reported C($0.44) EPS for the quarter, topping the consensus estimate of C($0.64) by C$0.20. Algoma Central had a net margin of 11.86% and a return on equity of 11.50%. The business had revenue of C$109.21 million during the quarter, compared to analysts’ expectations of C$119.00 million. Research analysts predict that Algoma Central will post 2.1595745 earnings per share for the current year.

Analyst Ratings Changes

Separately, Cormark upped their price target on shares of Algoma Central from C$18.50 to C$19.50 in a research report on Thursday, May 2nd.

About Algoma Central

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates through Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segments. The company operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, and salt producers as well as, agricultural product distributors.