K-Bro Linen Inc (TSE:KBL) to Issue $0.10 Monthly Dividend

K-Bro Linen Inc (TSE:KBL) declared a monthly dividend on Friday, February 14th, Zacks reports. Shareholders of record on Saturday, February 29th will be paid a dividend of 0.10 per share on Friday, March 13th. This represents a $1.20 annualized dividend and a yield of 2.67%. The ex-dividend date is Thursday, February 27th.

Shares of TSE:KBL traded down C$0.24 during trading on Wednesday, reaching C$44.87. 8,395 shares of the stock traded hands, compared to its average volume of 12,466. The stock has a market cap of $484.18 million and a P/E ratio of 48.86. The company has a debt-to-equity ratio of 58.57, a quick ratio of 1.02 and a current ratio of 1.74. The stock has a 50-day moving average of C$42.93 and a two-hundred day moving average of C$40.11. K-Bro Linen has a 52-week low of C$35.04 and a 52-week high of C$46.44.

In other news, Senior Officer Jeffrey Ronald Gannon sold 1,043 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of C$41.76, for a total transaction of C$43,555.68. Following the completion of the transaction, the insider now directly owns 7,186 shares of the company’s stock, valued at C$300,087.36.

KBL has been the topic of several analyst reports. Eight Capital set a C$50.00 price objective on K-Bro Linen and gave the company a “buy” rating in a research report on Tuesday, December 17th. Raymond James reiterated an “outperform” rating and set a C$45.00 target price on shares of K-Bro Linen in a research note on Tuesday, November 12th. Finally, National Bank Financial lifted their target price on K-Bro Linen from C$41.50 to C$47.00 and gave the stock an “outperform” rating in a report on Friday, February 7th.

K-Bro Linen Company Profile

K-Bro Linen Inc, together with its subsidiaries, engages in the processing, management, and distribution of general linen and operating room linen to healthcare institutions, hotels, and other commercial accounts in Canada. The company also offers other services, including bulk dock-to-dock, exchange cart preparation, delivery of carts, surgical linen, distribution and control of employee uniforms, personal clothing, customer reporting, customer service visiting, and textile procurement services.

See Also: Float

Dividend History for K-Bro Linen (TSE:KBL)

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