K-Bro Linen Inc. (TSE:KBL) Announces $0.10 Monthly Dividend

K-Bro Linen Inc. (TSE:KBL) declared a monthly dividend on Monday, July 15th, Zacks reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.10 per share on Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, July 31st.

K-Bro Linen Trading Up 2.4 %

Shares of K-Bro Linen stock opened at C$33.95 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.64 and a debt-to-equity ratio of 68.49. K-Bro Linen has a 12-month low of C$30.03 and a 12-month high of C$37.04. The company has a market capitalization of C$355.12 million, a price-to-earnings ratio of 20.96, a PEG ratio of 3.50 and a beta of 1.10. The firm’s 50-day moving average price is C$33.16 and its two-hundred day moving average price is C$34.01.

K-Bro Linen (TSE:KBL) last posted its quarterly earnings results on Monday, May 6th. The company reported C$0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.29 by C($0.12). The firm had revenue of C$80.23 million for the quarter, compared to analyst estimates of C$77.77 million. K-Bro Linen had a return on equity of 9.90% and a net margin of 5.27%. On average, analysts forecast that K-Bro Linen will post 1.9474586 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KBL has been the subject of a number of research analyst reports. Acumen Capital boosted their price target on K-Bro Linen from C$46.00 to C$47.50 and gave the stock a “buy” rating in a report on Wednesday, May 1st. TD Securities increased their target price on shares of K-Bro Linen from C$45.00 to C$46.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th.

Insider Activity

In other news, Senior Officer Ryo Utahara sold 1,400 shares of K-Bro Linen stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$32.40, for a total transaction of C$45,360.00. 3.14% of the stock is owned by corporate insiders.

About K-Bro Linen

K-Bro Linen Inc, together with its subsidiaries, provides laundry and linen services to healthcare institutions, hotels, and other commercial organizations in Canada and the United Kingdom. Its services include processing, management, and distribution of general and operating room linens, such as sheets, blankets, towels, surgical gowns, tablecloths, and drapes and other linens.