Valener Inc (VNR) Announces Quarterly Dividend of $0.29

Valener Inc (TSE:VNR) announced a quarterly dividend on Thursday, August 9th, Zacks reports. Investors of record on Sunday, September 30th will be paid a dividend of 0.29 per share on Monday, October 15th. This represents a $1.16 annualized dividend and a yield of 5.75%. The ex-dividend date is Thursday, September 27th.

Valener traded down C$0.15, hitting C$20.17, during trading hours on Friday, according to 22,728 shares of the company’s stock traded hands, compared to its average volume of 47,838. Valener has a 52 week low of C$19.73 and a 52 week high of C$23.28.

Valener (TSE:VNR) last posted its quarterly earnings results on Thursday, May 10th. The company reported C$0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.88 by C($0.01). The firm had revenue of C$46.91 million during the quarter. Valener had a return on equity of 6.99% and a net margin of 5,432.83%.

A number of equities analysts have weighed in on the stock. National Bank Financial upgraded shares of Valener from an “underperform” rating to a “sector perform” rating and set a C$22.00 price target for the company in a research report on Monday, May 14th. Royal Bank of Canada dropped their price target on shares of Valener from C$23.00 to C$22.00 and set a “sector perform” rating for the company in a research report on Friday, May 11th.

Valener Company Profile

Valener Inc, through its subsidiaries, engages in the transportation, distribution, supply, and storage of natural gas in Canada and the United States. It operates a gas pipeline in Québec; and 2 gas pipelines that cross the Ontario border, as well as has distribution network in northwest Québec. The company is also involved in the generation, transportation, distribution, purchase, and sale of electricity primarily in Vermont, New Hampshire, and New York, as well as the provision of electric network construction services.

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Dividend History for Valener (TSE:VNR)

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