Norbord Inc. (OSB) To Go Ex-Dividend on August 30th
Norbord Inc. (NYSE:OSB) announced a quarterly dividend on Friday, July 28th, Zacks reports. Investors of record on Friday, September 1st will be paid a dividend of 0.398 per share by the construction company on Thursday, September 21st. This represents a $1.59 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Norbord’s previous quarterly dividend of $0.22.
Norbord has a payout ratio of 61.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Norbord to earn $3.15 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 63.5%.
Shares of Norbord (NYSE:OSB) traded up 0.15% during mid-day trading on Friday, hitting $33.27. 2,615 shares of the company were exchanged. Norbord has a 12-month low of $21.40 and a 12-month high of $35.65. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 10.94 and a beta of 3.95. The firm has a 50 day moving average of $32.87 and a 200 day moving average of $30.16.
Norbord (NYSE:OSB) last posted its quarterly earnings results on Friday, July 28th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by $0.01. The company had revenue of $536 million for the quarter. Norbord had a return on equity of 37.87% and a net margin of 13.52%. Equities research analysts forecast that Norbord will post $3.74 earnings per share for the current year.
OSB has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Norbord from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine upgraded Norbord from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. TD Securities reiterated a “buy” rating and issued a $35.00 price objective on shares of Norbord in a research report on Wednesday, May 3rd. Credit Suisse Group upgraded Norbord from a “neutral” rating to an “outperform” rating in a research report on Monday, July 31st. Finally, BMO Capital Markets set a $28.00 price objective on Norbord and gave the stock a “hold” rating in a research report on Friday, July 28th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.00.
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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