PrairieSky Royalty Ltd (PSK) Announces $0.06 Monthly Dividend
PrairieSky Royalty Ltd (TSE:PSK) announced a monthly dividend on Wednesday, November 29th, TickerTech reports. Shareholders of record on Friday, December 15th will be given a dividend of 0.0625 per share on Friday, December 15th. This represents a $0.75 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, November 29th.
PrairieSky Royalty (PSK) traded up C$0.04 during trading on Tuesday, hitting C$32.56. The company had a trading volume of 354,639 shares, compared to its average volume of 475,393. PrairieSky Royalty has a 1-year low of C$27.10 and a 1-year high of C$35.90.
PSK has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on PrairieSky Royalty from C$35.00 to C$36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 1st. TD Securities cut PrairieSky Royalty from a “buy” rating to a “hold” rating and lowered their target price for the company from C$33.00 to C$32.00 in a research note on Monday, October 2nd. Raymond James Financial cut PrairieSky Royalty from an “outperform” rating to a “market perform” rating and set a C$34.00 target price for the company. in a research note on Tuesday, October 31st. CIBC lifted their target price on PrairieSky Royalty from C$35.00 to C$38.00 in a research note on Tuesday, October 17th. Finally, Scotiabank lifted their target price on PrairieSky Royalty from C$35.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$35.45.
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About PrairieSky Royalty
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.
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