Algoma Central (TSE:ALC) Reaches New 1-Year High After Dividend Announcement

Shares of Algoma Central Co. (TSE:ALC) reached a new 52-week high during trading on Tuesday following a dividend announcement from the company. The stock traded as high as C$25.50 and last traded at C$24.95, with a volume of 6711 shares traded. The stock had previously closed at C$25.17.

The newly announced dividend which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. Algoma Central’s payout ratio is currently 19.43%.

Algoma Central Price Performance

The company has a quick ratio of 2.06, a current ratio of 0.69 and a debt-to-equity ratio of 73.18. The business has a 50-day moving average price of C$23.00 and a two-hundred day moving average price of C$22.10. The company has a market capitalization of C$997.97 million, a price-to-earnings ratio of 5.83 and a beta of 0.96.

Algoma Central (TSE:ALC) last issued its earnings results on Friday, August 7th. The company reported C$0.88 earnings per share (EPS) for the quarter. Algoma Central had a return on equity of 17.13% and a net margin of 20.68%.The company had revenue of C$258.27 million for the quarter. As a group, research analysts anticipate that Algoma Central Co. will post 1.898977 EPS for the current year.

About Algoma Central

Algoma Central Corporation is a global provider of marine transportation, owning and operating dry and liquid bulk carriers that serve critical industries throughout the Great Lakes-St. Lawrence Region and internationally. Focused on delivering exceptional customer service, utilizing fuel efficient vessels, and advancing innovative technologies, Algoma drives productivity while contributing to economic growth, strengthening communities, and supporting its people. Algoma truly is Your Marine Carrier of Choice ¿.