Stelco Holdings Inc (TSE:STLC) Declares Quarterly Dividend of $0.50

Stelco Holdings Inc (TSE:STLCGet Free Report) announced a quarterly dividend on Thursday, May 16th, TickerTech reports. Stockholders of record on Friday, May 24th will be given a dividend of 0.50 per share on Friday, May 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Thursday, May 16th.

Stelco Price Performance

Shares of STLC stock traded down C$0.02 during midday trading on Wednesday, reaching C$42.90. 17,441 shares of the company traded hands, compared to its average volume of 177,710. Stelco has a 1-year low of C$32.93 and a 1-year high of C$51.10. The company has a debt-to-equity ratio of 58.19, a current ratio of 2.07 and a quick ratio of 1.55. The firm’s 50 day simple moving average is C$41.86 and its two-hundred day simple moving average is C$42.94. The firm has a market cap of C$2.36 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.03 and a beta of 2.40.

Analysts Set New Price Targets

STLC has been the subject of a number of recent research reports. Cormark lowered their target price on Stelco from C$60.00 to C$58.50 in a research note on Wednesday, May 1st. Stifel Nicolaus dropped their target price on shares of Stelco from C$49.00 to C$47.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. lowered their price objective on Stelco from C$56.00 to C$50.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. UBS Group set a C$51.00 target price on Stelco and gave the stock a “neutral” rating in a research report on Tuesday, January 16th. Finally, Scotiabank upped their price target on Stelco from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$50.61.

Get Our Latest Analysis on STLC

About Stelco

(Get Free Report)

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.

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Dividend History for Stelco (TSE:STLC)

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