Cineplex Inc (TSE:CGX) to Issue $0.15 Monthly Dividend

Cineplex Inc (TSE:CGX) declared a monthly dividend on Tuesday, August 20th, Zacks reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.15 per share on Monday, September 30th. This represents a $1.80 dividend on an annualized basis and a yield of 7.05%. The ex-dividend date is Thursday, August 29th.

Shares of TSE CGX opened at C$25.52 on Wednesday. The company has a debt-to-equity ratio of 329.31, a current ratio of 0.45 and a quick ratio of 0.33. The stock’s fifty day moving average price is C$24.04 and its two-hundred day moving average price is C$24.57. Cineplex has a one year low of C$22.34 and a one year high of C$36.65. The firm has a market cap of $1.62 billion and a price-to-earnings ratio of 32.72.

Several research firms have recently issued reports on CGX. TD Securities reduced their target price on Cineplex from C$33.00 to C$32.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Echelon Wealth Partners reissued a “buy” rating on shares of Cineplex in a report on Tuesday, April 30th. CIBC increased their target price on Cineplex from C$27.50 to C$28.50 in a report on Friday, August 9th. Raymond James set a C$31.00 target price on Cineplex and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Finally, National Bank Financial increased their target price on Cineplex from C$28.00 to C$29.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$31.08.

Cineplex Company Profile

Cineplex Inc, through its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Amusement and Leisure. The Film Entertainment and Content segment operates film theatres; and provides food and in-theatre amusement services, as well as rents theatre and digital commerce.

Further Reading: Why do companies issue convertible shares?

Dividend History for Cineplex (TSE:CGX)

Receive News & Ratings for Cineplex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cineplex and related companies with MarketBeat.com's FREE daily email newsletter.