Algoma Central (TSE:ALC) Stock Price Up 6.5% – Here’s Why

Algoma Central Co. (TSE:ALC) shares were up 6.5% on Monday. The stock traded as high as C$31.21 and last traded at C$31.11. Approximately 6,289 shares were traded during mid-day trading, a decline of 25% from the average session volume of 8,441 shares. The stock had previously closed at C$29.22.

Algoma Central Stock Up 6.5%

The company’s fifty day simple moving average is C$26.41 and its 200-day simple moving average is C$23.17. The company has a debt-to-equity ratio of 73.18, a current ratio of 0.69 and a quick ratio of 2.06. The firm has a market capitalization of C$1.26 billion, a PE ratio of 6.78 and a beta of 1.09.

Algoma Central (TSE:ALC) last issued its quarterly earnings results on Friday, November 6th. The company reported C$1.34 earnings per share (EPS) for the quarter. Algoma Central had a return on equity of 18.59% and a net margin of 20.92%. The business had revenue of C$287.75 million for the quarter. On average, analysts forecast that Algoma Central Co. will post 1.90 EPS for the current year.

Algoma Central Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, December 1st will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, November 17th. This is a positive change from Algoma Central’s previous quarterly dividend of $0.21. Algoma Central’s payout ratio is 18.08%.

Algoma Central Company Profile

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 ¿.