Power Co. of Canada Plans Quarterly Dividend of $0.56 (TSE:POW)

Power Co. of Canada (TSE:POW) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.563 per share by the financial services provider on Thursday, August 1st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date is Friday, June 28th.

Power Co. of Canada Stock Performance

Shares of TSE POW traded up C$0.05 during mid-day trading on Friday, hitting C$40.45. The company had a trading volume of 63,405 shares, compared to its average volume of 2,892,763. The company has a current ratio of 23.47, a quick ratio of 107.64 and a debt-to-equity ratio of 50.75. Power Co. of Canada has a 1 year low of C$32.33 and a 1 year high of C$40.55. The company has a market capitalization of C$24.07 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.95 and a beta of 1.09. The stock’s 50-day moving average price is C$37.95 and its 200-day moving average price is C$37.56.

Power Co. of Canada (TSE:POW) last announced its quarterly earnings results on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share for the quarter, missing the consensus estimate of C$1.00 by C($0.11). The company had revenue of C$21.37 billion for the quarter. Power Co. of Canada had a net margin of 6.89% and a return on equity of 8.94%. On average, sell-side analysts forecast that Power Co. of Canada will post 4.5329341 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. TD Securities lowered Power Co. of Canada from a “buy” rating to a “hold” rating and upped their target price for the stock from C$40.00 to C$42.00 in a research note on Friday, March 22nd. Royal Bank of Canada increased their price target on shares of Power Co. of Canada from C$45.00 to C$46.00 in a research report on Thursday. BMO Capital Markets raised their price target on Power Co. of Canada from C$41.00 to C$42.00 and gave the stock a “market perform” rating in a research report on Tuesday. CIBC raised their target price on shares of Power Co. of Canada from C$40.00 to C$43.00 in a report on Thursday. Finally, Jefferies Financial Group increased their price target on shares of Power Co. of Canada from C$43.00 to C$44.00 and gave the company a “buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$42.30.

About Power Co. of Canada

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.