Power Co. of Canada (TSE:POW) Raises Dividend to $0.53 Per Share

Power Co. of Canada (TSE:POW – Get Rating) announced a quarterly dividend on Thursday, March 16th, Zacks reports. Stockholders of record on Friday, March 31st will be paid a dividend of 0.525 per share by the financial services provider on Monday, May 1st. This represents a $2.10 annualized dividend and a dividend yield of 6.23%. The ex-dividend date is Thursday, March 30th. This is an increase from Power Co. of Canada’s previous quarterly dividend of $0.50.

Power Co. of Canada Stock Down 4.4 %

Shares of POW stock opened at C$33.71 on Friday. The stock has a market cap of C$20.64 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of -3.07 and a beta of 1.06. Power Co. of Canada has a one year low of C$29.76 and a one year high of C$39.71. The stock has a fifty day moving average price of C$35.77 and a 200 day moving average price of C$33.92. The company has a debt-to-equity ratio of 46.06, a current ratio of 123.81 and a quick ratio of 107.64.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on POW shares. Royal Bank of Canada raised their target price on Power Co. of Canada from C$39.00 to C$41.00 and gave the stock a “sector perform” rating in a research report on Friday. BMO Capital Markets lifted their price objective on Power Co. of Canada from C$36.00 to C$40.00 in a report on Tuesday. TD Securities lifted their price objective on Power Co. of Canada from C$35.00 to C$38.00 and gave the company a “hold” rating in a report on Wednesday, February 15th. Barclays lifted their price objective on Power Co. of Canada from C$35.00 to C$39.00 in a report on Monday, March 13th. Finally, Desjardins cut Power Co. of Canada from a “buy” rating to a “hold” rating in a report on Wednesday, February 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$39.57.

About Power Co. of Canada

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Power Corporation of Canada operates as an international management and holding company in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, disability, critical illness, accidental death, dismemberment, health and dental protection, and creditor insurance; retirement and investment management; asset management; and reinsurance and retrocession; investment advisory, financial planning, and related services; and fund, protection, and wealth management services.