Acadian Timber Corp. (TSE:ADN) Announces $0.29 Quarterly Dividend

Acadian Timber Corp. (TSE:ADN) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Sunday, June 30th will be given a dividend of 0.29 per share on Monday, July 15th. This represents a $1.16 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Friday, June 28th.

Acadian Timber Price Performance

Shares of Acadian Timber stock opened at C$18.06 on Friday. The firm has a fifty day moving average price of C$17.32 and a two-hundred day moving average price of C$16.84. The company has a market cap of C$311.54 million, a PE ratio of 10.50, a price-to-earnings-growth ratio of -4.84 and a beta of 0.87. Acadian Timber has a fifty-two week low of C$15.50 and a fifty-two week high of C$18.69. The company has a debt-to-equity ratio of 33.08, a current ratio of 1.96 and a quick ratio of 1.04.

Acadian Timber (TSE:ADN) last released its quarterly earnings results on Wednesday, February 7th. The company reported C$0.08 EPS for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.08). The firm had revenue of C$23.82 million during the quarter. Acadian Timber had a net margin of 31.49% and a return on equity of 9.45%. Analysts expect that Acadian Timber will post 1.4394904 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ADN shares. CIBC upgraded shares of Acadian Timber from a “neutral” rating to an “outperform” rating and upped their price target for the stock from C$17.00 to C$20.00 in a research report on Thursday, April 11th. Raymond James raised Acadian Timber from a “market perform” rating to an “outperform” rating and upped their price target for the company from C$17.00 to C$18.50 in a research note on Thursday, February 8th. Finally, Royal Bank of Canada upped their target price on shares of Acadian Timber from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th.

Acadian Timber Company Profile

Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates in two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages freehold timberlands in New Brunswick and Maine; and provides timber services relating to Crown licensed timberlands in New Brunswick.