Kirkland Lake Gold Ltd (NYSE:KL) Declares Quarterly Dividend of $0.13

Kirkland Lake Gold Ltd (NYSE:KL) announced a quarterly dividend on Wednesday, June 17th, Zacks reports. Investors of record on Tuesday, June 30th will be given a dividend of 0.125 per share on Monday, July 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Monday, June 29th. This is an increase from Kirkland Lake Gold’s previous quarterly dividend of $0.06.

Kirkland Lake Gold has a payout ratio of 16.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kirkland Lake Gold to earn $3.90 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 12.8%.

KL opened at $38.72 on Friday. The stock has a market cap of $10.73 billion, a P/E ratio of 13.40, a P/E/G ratio of 4.27 and a beta of 0.83. The stock’s 50 day simple moving average is $38.93 and its 200 day simple moving average is $38.17. Kirkland Lake Gold has a 1-year low of $18.02 and a 1-year high of $51.08.

Kirkland Lake Gold (NYSE:KL) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.12). The firm had revenue of $554.74 million during the quarter, compared to analyst estimates of $759.84 million. Kirkland Lake Gold had a return on equity of 28.04% and a net margin of 40.05%. The business’s revenue was up 81.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, equities analysts expect that Kirkland Lake Gold will post 3.03 earnings per share for the current fiscal year.

KL has been the topic of a number of analyst reports. TD Securities raised Kirkland Lake Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, March 17th. Roth Capital raised shares of Kirkland Lake Gold from a “neutral” rating to a “buy” rating in a research note on Thursday, June 11th. Royal Bank of Canada reissued a “buy” rating and issued a $45.00 target price on shares of Kirkland Lake Gold in a research note on Sunday, May 17th. National Bank Financial downgraded shares of Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 22nd. Finally, CIBC raised shares of Kirkland Lake Gold from a “neutral” rating to a “sector outperform” rating in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $49.75.

About Kirkland Lake Gold

Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. It owns and operates four underground gold mines, including the Macassa, Holt, and Taylor mines located in northeastern Ontario, Canada; and the Fosterville Mine located in Victoria, Australia, as well as three milling facilities in Canada and Australia.

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Dividend History for Kirkland Lake Gold (NYSE:KL)

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