Algoma Central Co. Announces Quarterly Dividend of $0.19 (TSE:ALC)

Algoma Central Co. (TSE:ALC) announced a quarterly dividend on Friday, August 2nd, Zacks reports. Investors 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 is Tuesday, August 20th.

Algoma Central Stock Down 3.8 %

Shares of Algoma Central stock traded down C$0.56 during midday trading 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 company has a debt-to-equity ratio of 56.05, a quick ratio of 2.06 and a current ratio of 0.58. The stock has a market capitalization of C$563.56 million, a P/E ratio of 6.89 and a beta of 0.72. The company has a 50 day moving average of C$14.26 and a 200 day moving average of C$14.65. Algoma Central has a 52-week low of C$14.07 and a 52-week high of C$15.75.

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

Wall Street Analyst Weigh In

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

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.