Maple Leaf Foods Inc. (TSE:MFI) Increases Dividend to $0.24 Per Share

Maple Leaf Foods Inc. (TSE:MFI) announced a quarterly dividend on Friday, March 7th, TickerTech Dividends reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.24 per share on Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Friday, March 7th. This is a boost from Maple Leaf Foods’s previous quarterly dividend of $0.22.

Maple Leaf Foods Stock Performance

Shares of MFI traded up C$0.31 on Wednesday, reaching C$24.93. 18,654 shares of the stock traded hands, compared to its average volume of 245,827. The stock’s 50-day moving average price is C$21.62 and its 200-day moving average price is C$22.00. The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54. The firm has a market cap of C$3.12 billion, a price-to-earnings ratio of 92.00, a P/E/G ratio of 18.07 and a beta of 0.47. Maple Leaf Foods has a 12 month low of C$19.61 and a 12 month high of C$26.10.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MFI. Royal Bank of Canada boosted their price target on shares of Maple Leaf Foods from C$29.00 to C$30.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group upped their target price on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the company a “buy” rating in a research note on Monday, January 13th. CIBC raised their price target on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. National Bankshares lifted their price objective on Maple Leaf Foods from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, TD Securities dropped their target price on Maple Leaf Foods from C$35.00 to C$34.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$31.08.

About Maple Leaf Foods

Maple Leaf Foods Inc is a consumer-packaged meats company. It produces prepared meats and meals, fresh pork, and poultry and turkey products. The company also has agribusiness operations. These operations supply livestock to the meat products business operations. Its main markets are Canada, the United States, Japan, and China.