Algoma Central (TSE:ALC) Hits New 52-Week High – Here’s What Happened

Algoma Central Co. (TSE:ALC)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$24.10 and last traded at C$24.06, with a volume of 14863 shares. The stock had previously closed at C$23.84.

Algoma Central Price Performance

The business’s fifty day simple moving average is C$20.26 and its 200 day simple moving average is C$18.65. The company has a debt-to-equity ratio of 68.25, a quick ratio of 2.06 and a current ratio of 0.55. The stock has a market cap of C$967.55 million, a price-to-earnings ratio of 9.58 and a beta of 0.46.

Algoma Central Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, March 2nd were paid a dividend of $0.21 per share. This is an increase from Algoma Central’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. Algoma Central’s dividend payout ratio (DPR) is currently 31.73%.

Algoma Central Company Profile

Algoma Central Corp owns and operates the fleet of dry and liquid bulk carriers operating on the Great Lakes, St. Lawrence Waterway. The company’s Canadian flag fleet consists of self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. The company operates its business through six segments that are Domestic Dry-Bulk, Product Tankers, Ocean SelfUnloaders, Corporate, Investment Properties, and Global Short Sea Shipping. The company earns revenues from marine operations through contracts of affreightment, time charters, and pool revenue.