Western Forest Products Inc (TSE:WEF) Increases Dividend to $0.02 Per Share

Western Forest Products Inc (TSE:WEF) announced a quarterly dividend on Wednesday, February 12th, Zacks reports. Investors of record on Friday, February 28th will be given a dividend of 0.023 per share on Friday, March 13th. This represents a $0.09 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Thursday, February 27th. This is a positive change from Western Forest Products’s previous quarterly dividend of $0.02.

WEF stock opened at C$1.35 on Friday. The company has a debt-to-equity ratio of 25.88, a quick ratio of 0.86 and a current ratio of 3.85. The stock has a market cap of $427.73 million and a P/E ratio of -42.19. The firm has a 50 day simple moving average of C$1.19 and a 200 day simple moving average of C$1.23. Western Forest Products has a 52 week low of C$1.05 and a 52 week high of C$2.02.

Several analysts recently commented on WEF shares. Raymond James restated an “outperform” rating and set a C$1.50 price target on shares of Western Forest Products in a report on Tuesday. Royal Bank of Canada cut shares of Western Forest Products from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$1.00 to C$1.25 in a research note on Thursday. Scotiabank reduced their target price on shares of Western Forest Products from C$1.75 to C$1.50 in a research note on Wednesday, December 18th. Finally, TD Securities lifted their target price on shares of Western Forest Products from C$1.25 to C$1.50 and gave the company a “hold” rating in a research note on Thursday.

Western Forest Products Company Profile

Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.

Read More: Growth Stocks

Dividend History for Western Forest Products (TSE:WEF)

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