South Bow Corporation (NYSE:SOBO) Announces $0.50 Quarterly Dividend

South Bow Corporation (NYSE:SOBO) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Tuesday, September 29th will be given a dividend of 0.50 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 29th.

South Bow has a dividend payout ratio of 109.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect South Bow to earn $2.03 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 98.5%.

South Bow Stock Up 0.5%

Shares of SOBO stock opened at $35.65 on Thursday. The stock’s fifty day moving average price is $36.66 and its 200 day moving average price is $33.93. South Bow has a 1-year low of $25.01 and a 1-year high of $38.94. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 17.61 and a beta of 0.15. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.51 and a quick ratio of 1.37.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. South Bow had a return on equity of 15.24% and a net margin of 21.32%.The business had revenue of $546.00 million during the quarter, compared to the consensus estimate of $496.87 million. On average, research analysts expect that South Bow will post 1.78 earnings per share for the current fiscal year.

South Bow Company Profile

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.