Stelco Holdings Inc. (TSE:STL) Increases Dividend to $0.75 Per Share

Stelco Holdings Inc. (TSE:STL) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Monday, August 19th will be given a dividend of 0.75 per share on Monday, August 26th. This represents a $3.00 annualized dividend and a yield of ∞. The ex-dividend date is Monday, August 19th. This is a boost from Stelco’s previous quarterly dividend of $0.50.

Stelco Price Performance

Stelco has a one year low of C$21.00 and a one year high of C$26.50.

Stelco (TSE:STL) last posted its quarterly earnings data on Wednesday, May 8th. The company reported C$1.27 EPS for the quarter, missing analysts’ consensus estimates of C$1.39 by C($0.12). The company had revenue of C$746.00 million for the quarter, compared to analysts’ expectations of C$771.42 million.

Analyst Ratings Changes

Separately, Stifel Canada downgraded Stelco from a “strong-buy” rating to a “hold” rating in a report on Monday, July 15th.

Stelco Company Profile

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.