Stelco Holdings Inc Announces Quarterly Dividend of $0.42 (TSE:STLC)

Stelco Holdings Inc (TSE:STLC) declared a quarterly dividend on Tuesday, November 21st, TickerTech reports. Stockholders of record on Tuesday, November 28th will be paid a dividend of 0.42 per share on Tuesday, November 28th. This represents a $1.68 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Tuesday, November 21st.

Stelco Price Performance

STLC opened at C$44.40 on Monday. The company’s 50-day simple moving average is C$37.34 and its two-hundred day simple moving average is C$40.97. The company has a debt-to-equity ratio of 3.78, a quick ratio of 1.55 and a current ratio of 2.09. The stock has a market capitalization of C$2.45 billion, a P/E ratio of 10.65, a P/E/G ratio of 0.03 and a beta of 2.43. Stelco has a 52-week low of C$32.93 and a 52-week high of C$60.57.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Scotiabank increased their target price on shares of Stelco from C$42.50 to C$46.00 and gave the stock a “sector perform” rating in a report on Monday, November 13th. CSFB downgraded shares of Stelco from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from C$50.55 to C$42.00 in a research report on Friday, September 15th. National Bankshares upped their target price on shares of Stelco from C$43.00 to C$47.00 and gave the stock a “sector perform” rating in a report on Friday, November 10th. Stifel Nicolaus raised their price target on Stelco from C$37.00 to C$41.00 and gave the company a “buy” rating in a report on Friday, November 10th. Finally, Royal Bank of Canada dropped their price objective on Stelco from C$43.00 to C$41.00 in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Stelco presently has an average rating of “Hold” and an average price target of C$46.50.

About Stelco

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.