Stelco Holdings Inc (STLC) to Issue Quarterly Dividend of $0.75 on August 26th

Stelco Holdings Inc (TSE:STLC) declared a quarterly dividend on Monday, August 19th, TickerTech reports. Shareholders of record on Monday, August 26th will be paid a dividend of 0.75 per share on Monday, August 26th. This represents a $3.00 annualized dividend and a yield of 4.58%. The ex-dividend date is Monday, August 19th. This is an increase from Stelco’s previous quarterly dividend of $0.50.

Stelco Stock Performance

STLC traded down C$0.07 during trading on Friday, hitting C$65.50. The stock had a trading volume of 140,055 shares, compared to its average volume of 253,162. The company has a debt-to-equity ratio of 60.97, a quick ratio of 1.55 and a current ratio of 1.85. The firm has a market capitalization of C$3.57 billion, a P/E ratio of 20.86, a PEG ratio of 0.03 and a beta of 2.71. The company’s 50-day moving average price is C$51.46 and its 200 day moving average price is C$44.91. Stelco has a twelve month low of C$32.93 and a twelve month high of C$67.00.

Analyst Upgrades and Downgrades

STLC has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Stelco from C$58.00 to C$55.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. National Bankshares lowered their price target on shares of Stelco from C$54.00 to C$52.00 in a research note on Friday, May 10th. Cormark lowered shares of Stelco from a “buy” rating to a “tender” rating and boosted their price objective for the stock from C$58.50 to C$70.00 in a research report on Tuesday, July 16th. Stifel Nicolaus lowered shares of Stelco from a “buy” rating to a “hold” rating and upped their target price for the company from C$47.00 to C$70.00 in a report on Tuesday, July 16th. Finally, Royal Bank of Canada upped their target price on shares of Stelco from C$43.00 to C$70.00 in a report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$56.44.

Stelco Company Profile

Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company’s steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.