Power Co. of Canada (TSE:POW) to Issue $0.56 Quarterly Dividend

Power Co. of Canada (TSE:POW) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.563 per share by the financial services provider on Friday, November 1st. This represents a $2.25 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date is Friday, September 27th.

Power Co. of Canada Stock Up 0.5 %

TSE POW opened at C$43.11 on Thursday. Power Co. of Canada has a 12 month low of C$32.33 and a 12 month high of C$43.23. The company has a market capitalization of C$25.54 billion, a P/E ratio of 9.82, a PEG ratio of 0.95 and a beta of 1.09. The company’s 50 day simple moving average is C$40.06 and its 200 day simple moving average is C$39.02. The company has a debt-to-equity ratio of 48.53, a current ratio of 91.78 and a quick ratio of 107.64.

Power Co. of Canada (TSE:POW) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported C$1.17 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.12 by C$0.05. Power Co. of Canada had a return on equity of 11.29% and a net margin of 8.29%. The firm had revenue of C$9.91 billion for the quarter. Equities research analysts expect that Power Co. of Canada will post 4.9731622 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Scotiabank raised their price objective on shares of Power Co. of Canada from C$47.00 to C$47.50 in a research note on Wednesday, July 24th. Royal Bank of Canada raised their target price on Power Co. of Canada from C$46.00 to C$47.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th. TD Securities raised Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Desjardins raised their price objective on Power Co. of Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group lowered their target price on Power Co. of Canada from C$45.00 to C$44.00 in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$43.28.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.