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

Algoma Central Co. (TSE:ALC) announced 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 Trading Down 3.8 %

Shares of Algoma Central stock traded down C$0.56 during trading hours on Friday, hitting C$14.26. The company’s stock had a trading volume of 35,375 shares, compared to its average volume of 12,611. Algoma Central has a 1-year low of C$14.07 and a 1-year high of C$15.75. The business has a fifty day moving average of C$14.26 and a 200 day moving average of C$14.65. The company has a market capitalization of C$563.56 million, a PE ratio of 6.89 and a beta of 0.72. The company has a quick ratio of 2.06, a current ratio of 0.58 and a debt-to-equity ratio of 56.05.

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

Wall Street Analysts Forecast Growth

Separately, Cormark upped their target price on shares of Algoma Central from C$18.50 to C$19.50 in a research note 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.