Pet Valu Holdings Ltd. (TSE:PET) Increases Dividend to $0.58 Per Share

Pet Valu Holdings Ltd. (TSE:PET) announced a quarterly dividend on Tuesday, November 5th, RTT News reports. Stockholders of record on Friday, December 20th will be given a dividend of 0.58 per share on Friday, January 3rd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 9.32%. This is a positive change from Pet Valu’s previous quarterly dividend of $0.11.

Pet Valu Stock Down 2.2 %

Shares of Pet Valu stock opened at C$24.90 on Wednesday. Pet Valu has a one year low of C$23.58 and a one year high of C$32.90. The stock has a 50 day moving average of C$25.50. The stock has a market cap of C$1.78 billion, a PE ratio of 21.84 and a beta of 0.81.

Pet Valu (TSE:PET) last issued its earnings results on Tuesday, November 5th. The company reported C$0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.35 by C$0.06. Pet Valu had a net margin of 7.64% and a return on equity of 128.24%. The firm had revenue of C$276.03 million for the quarter, compared to analysts’ expectations of C$267.68 million. As a group, sell-side analysts forecast that Pet Valu will post 1.6820546 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Cibc World Mkts upgraded shares of Pet Valu to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays upgraded Pet Valu to a “strong-buy” rating in a report on Wednesday, August 7th.

About Pet Valu

Pet Valu Holdings Ltd. engages in the retail and wholesale of pet foods and pet-related supplies for dogs, cats, fish, birds, reptiles, and small animals in Canada. It offers food and treats for dogs and cats, cat litter, dog and cat toys, collars and leashes, health and wellness solutions, waste management solutions, pet cages and carriers, flea and tick products, and pet apparel and other related accessories.