Mullen Group Ltd (TSE:MTL) to Issue $0.03 Monthly Dividend

Mullen Group Ltd (TSE:MTL) announced a monthly dividend on Wednesday, July 22nd, Zacks reports. Investors of record on Friday, July 31st will be paid a dividend of 0.03 per share on Monday, August 17th. This represents a $0.36 annualized dividend and a yield of 3.78%. The ex-dividend date is Thursday, July 30th.

TSE:MTL traded down C$0.05 on Wednesday, hitting C$9.52. 385,519 shares of the company’s stock traded hands, compared to its average volume of 475,534. The company has a market cap of $948.38 million and a PE ratio of 15.35. Mullen Group has a 1 year low of C$3.85 and a 1 year high of C$10.37. The company has a current ratio of 3.09, a quick ratio of 2.68 and a debt-to-equity ratio of 71.44. The firm has a 50-day moving average price of C$7.55 and a 200-day moving average price of C$6.95.

MTL has been the topic of a number of research analyst reports. National Bank Financial boosted their price objective on shares of Mullen Group from C$9.50 to C$10.75 and gave the company an “outperform market weight” rating in a research report on Thursday, July 23rd. TD Securities boosted their price target on shares of Mullen Group from C$10.00 to C$11.00 and gave the company a “buy” rating in a report on Friday, July 24th. Raymond James increased their price objective on Mullen Group from C$8.00 to C$9.75 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Scotiabank lifted their price objective on Mullen Group from C$9.50 to C$10.60 in a research report on Friday, July 24th. Finally, Royal Bank of Canada raised Mullen Group from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$8.00 to C$10.00 in a research report on Friday, July 24th. Four analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of C$10.70.

Mullen Group Company Profile

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods.

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Dividend History for Mullen Group (TSE:MTL)

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