Algoma Central (TSE:ALC) Shares Pass Below 200-Day Moving Average – Here’s Why

Shares of Algoma Central Co. (TSE:ALC) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$14.64 and traded as low as C$14.62. Algoma Central shares last traded at C$14.62, with a volume of 7,400 shares changing hands.

Algoma Central Stock Down 0.9 %

The stock has a 50-day moving average of C$14.86 and a 200 day moving average of C$14.64. The company has a quick ratio of 2.06, a current ratio of 0.65 and a debt-to-equity ratio of 56.47. The company has a market capitalization of C$593.13 million, a PE ratio of 8.81 and a beta of 0.72.

Algoma Central Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, December 2nd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date was Monday, November 18th. Algoma Central’s dividend payout ratio (DPR) is currently 45.78%.

Algoma Central Company Profile

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.