Hardwoods Distribution Inc (TSE:HDI) to Issue Quarterly Dividend of $0.08

Hardwoods Distribution Inc (TSE:HDI) announced a quarterly dividend on Thursday, October 10th, TickerTech reports. Investors of record on Friday, October 25th will be paid a dividend of 0.08 per share on Friday, October 25th. This represents a $0.32 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, October 10th.

TSE HDI traded up C$0.08 on Tuesday, reaching C$11.20. The company had a trading volume of 2,880 shares, compared to its average volume of 38,339. The company has a quick ratio of 0.77, a current ratio of 2.02 and a debt-to-equity ratio of 71.61. The company’s fifty day moving average is C$11.69 and its 200 day moving average is C$12.37. Hardwoods Distribution has a 52-week low of C$10.04 and a 52-week high of C$16.23. The stock has a market capitalization of $237.38 million and a P/E ratio of 8.49.

Hardwoods Distribution (TSE:HDI) last posted its earnings results on Monday, August 12th. The company reported C$0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.42 by C($0.02). The firm had revenue of C$304.55 million for the quarter, compared to analysts’ expectations of C$306.40 million. On average, research analysts expect that Hardwoods Distribution will post 1.51 EPS for the current year.

Several research analysts recently weighed in on HDI shares. CIBC cut their price target on shares of Hardwoods Distribution from C$16.00 to C$15.00 in a report on Friday, July 5th. National Bank Financial increased their price objective on shares of Hardwoods Distribution from C$18.00 to C$18.50 and gave the company an “outperform” rating in a research note on Tuesday, August 13th.

Hardwoods Distribution Company Profile

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential and commercial construction sectors in Canada and the United States. The company offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, and solid surfaces.

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