Hardwoods Distribution Inc. (TSE:HDI) Declares Quarterly Dividend of $0.12

Hardwoods Distribution Inc. (TSE:HDI) announced a quarterly dividend on Friday, January 14th, TickerTech reports. Investors of record on Friday, January 28th will be paid a dividend of 0.12 per share on Friday, January 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, January 14th. This is an increase from Hardwoods Distribution’s previous quarterly dividend of $0.10.

HDI stock traded down C$0.52 during midday trading on Wednesday, hitting C$42.75. The company’s stock had a trading volume of 26,935 shares, compared to its average volume of 64,053. The company’s fifty day moving average price is C$43.48 and its 200 day moving average price is C$38.94. Hardwoods Distribution has a twelve month low of C$25.31 and a twelve month high of C$49.34. The stock has a market capitalization of C$1.01 billion and a P/E ratio of 9.43. The company has a debt-to-equity ratio of 202.12, a current ratio of 2.22 and a quick ratio of 0.66.

Hardwoods Distribution (TSE:HDI) last issued its earnings results on Monday, November 8th. The company reported C$1.68 EPS for the quarter, missing the consensus estimate of C$1.71 by C($0.03). The firm had revenue of C$471.67 million for the quarter, compared to the consensus estimate of C$568.61 million. Equities analysts expect that Hardwoods Distribution will post 5.31 EPS for the current fiscal year.

A number of research firms have weighed in on HDI. Cormark reduced their target price on shares of Hardwoods Distribution from C$65.00 to C$63.50 in a report on Thursday, December 9th. National Bankshares upped their price objective on shares of Hardwoods Distribution from C$67.50 to C$75.50 and gave the company an “outperform” rating in a research note on Tuesday, December 7th. upped their price objective on shares of Hardwoods Distribution from C$62.00 to C$66.00 in a research note on Thursday, October 21st. Finally, CIBC upped their price objective on shares of Hardwoods Distribution from C$59.00 to C$60.00 in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$61.33.

About Hardwoods Distribution

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets. It offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, solid surface products, and decorative laminates.

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Dividend History for Hardwoods Distribution (TSE:HDI)

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