Algoma Central (TSE:ALC) Announces Quarterly Earnings Results

Algoma Central (TSE:ALC) posted its quarterly earnings data on Thursday. The company reported C$2.32 earnings per share for the quarter, FiscalAI reports. Algoma Central had a net margin of 13.31% and a return on equity of 11.22%.

Algoma Central Trading Down 8.1%

Shares of TSE ALC opened at C$21.93 on Friday. The company has a market cap of C$889.66 million, a price-to-earnings ratio of 8.81 and a beta of 0.82. The business has a fifty day simple moving average of C$20.43 and a 200-day simple moving average of C$18.71. The company has a quick ratio of 2.06, a current ratio of 0.55 and a debt-to-equity ratio of 68.25. Algoma Central has a 12 month low of C$14.07 and a 12 month high of C$24.10.

Algoma Central Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, March 2nd were issued a dividend of $0.21 per share. This is a positive change from Algoma Central’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, February 13th. Algoma Central’s dividend payout ratio (DPR) is currently 31.73%.

About Algoma Central

Algoma Central Corp owns and operates the fleet of dry and liquid bulk carriers operating on the Great Lakes, St. Lawrence Waterway. The company’s Canadian flag fleet consists of self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. The company operates its business through six segments that are Domestic Dry-Bulk, Product Tankers, Ocean SelfUnloaders, Corporate, Investment Properties, and Global Short Sea Shipping. The company earns revenues from marine operations through contracts of affreightment, time charters, and pool revenue.