Toromont Industries Ltd (TSE:TIH) Announces Quarterly Dividend of $0.27

Toromont Industries Ltd (TSE:TIH) declared a quarterly dividend on Thursday, September 5th, TickerTech reports. Shareholders of record on Wednesday, October 2nd will be paid a dividend of 0.27 per share on Wednesday, October 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, September 5th.

Shares of TIH opened at C$63.14 on Wednesday. Toromont Industries has a 12-month low of C$51.02 and a 12-month high of C$70.62. The business has a 50-day simple moving average of C$63.49 and a two-hundred day simple moving average of C$64.59. The company has a quick ratio of 0.61, a current ratio of 1.56 and a debt-to-equity ratio of 49.44. The stock has a market cap of $5.12 billion and a PE ratio of 19.20.

A number of equities analysts have issued reports on the company. BMO Capital Markets upped their target price on Toromont Industries from C$72.00 to C$74.00 in a report on Friday, July 26th. Raymond James reaffirmed an “outperform” rating and issued a C$75.00 target price on shares of Toromont Industries in a report on Friday, July 26th. Canaccord Genuity upped their target price on Toromont Industries from C$62.00 to C$64.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada lowered their target price on Toromont Industries from C$65.00 to C$64.00 in a report on Monday, July 22nd. Finally, CIBC upped their target price on Toromont Industries from C$68.00 to C$69.00 in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of C$70.00.



In other news, Director Randall Casson sold 400 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of C$65.92, for a total value of C$26,368.00. Following the completion of the sale, the director now owns 129,600 shares of the company’s stock, valued at C$8,543,232. Also, Director David Allan Malinauskas sold 1,800 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$63.50, for a total value of C$114,300.00. Following the completion of the sale, the director now directly owns 2,070 shares of the company’s stock, valued at approximately C$131,445. In the last three months, insiders sold 11,300 shares of company stock valued at $737,579.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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Dividend History for Toromont Industries (TSE:TIH)

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