Power Co. of Canada (TSE:POW) Increases Dividend to $0.53 Per Share

Power Co. of Canada (TSE:POW – Get Rating) declared a quarterly dividend on Thursday, March 16th, Zacks reports. Stockholders of record on Friday, March 31st will be given a dividend of 0.525 per share by the financial services provider on Monday, May 1st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date is Thursday, March 30th. This is a boost from Power Co. of Canada’s previous quarterly dividend of $0.50.

Power Co. of Canada Price Performance

TSE:POW traded down C$1.55 during mid-day trading on Friday, reaching C$33.71. The stock had a trading volume of 7,009,754 shares, compared to its average volume of 2,576,119. The stock has a market capitalization of C$20.64 billion, a P/E ratio of 11.47, a P/E/G ratio of -3.07 and a beta of 1.06. The firm has a 50 day moving average price of C$35.77 and a two-hundred day moving average price of C$33.92. The company has a debt-to-equity ratio of 46.06, a quick ratio of 107.64 and a current ratio of 123.81. Power Co. of Canada has a one year low of C$29.76 and a one year high of C$39.71.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. CIBC upped their price objective on shares of Power Co. of Canada from C$35.00 to C$37.00 in a research note on Tuesday, January 24th. Scotiabank increased their target price on Power Co. of Canada from C$39.00 to C$44.00 in a report on Wednesday, March 8th. BMO Capital Markets raised their price target on Power Co. of Canada from C$36.00 to C$40.00 in a research report on Tuesday. Desjardins downgraded Power Co. of Canada from a “buy” rating to a “hold” rating in a research report on Wednesday, February 1st. Finally, Royal Bank of Canada raised their target price on shares of Power Co. of Canada from C$39.00 to C$41.00 and gave the stock a “sector perform” rating in a report on Friday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$39.57.

About Power Co. of Canada

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Power Corporation of Canada operates as an international management and holding company in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, disability, critical illness, accidental death, dismemberment, health and dental protection, and creditor insurance; retirement and investment management; asset management; and reinsurance and retrocession; investment advisory, financial planning, and related services; and fund, protection, and wealth management services.