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

Power Co. of Canada (TSE:POW) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders 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 yield of 5.59%. The ex-dividend date is Friday, June 28th.

Power Co. of Canada Price Performance

POW traded down C$0.12 during trading on Friday, reaching C$40.28. 360,247 shares of the stock were exchanged, compared to its average volume of 2,895,941. Power Co. of Canada has a 1 year low of C$32.33 and a 1 year high of C$40.59. The company has a market capitalization of C$23.97 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.95 and a beta of 1.09. The company has a debt-to-equity ratio of 50.75, a current ratio of 23.47 and a quick ratio of 107.64. The business’s 50 day moving average price is C$37.95 and its two-hundred day moving average price is C$37.56.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings data on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.00 by C($0.11). The business had revenue of C$21.37 billion for the quarter. Power Co. of Canada had a return on equity of 8.94% and a net margin of 6.89%. As a group, equities research analysts anticipate that Power Co. of Canada will post 4.5329341 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. National Bankshares boosted their target price on Power Co. of Canada from C$41.00 to C$42.00 in a report on Thursday. CIBC increased their price objective on shares of Power Co. of Canada from C$40.00 to C$43.00 in a research report on Thursday. BMO Capital Markets raised their price objective on shares of Power Co. of Canada from C$41.00 to C$42.00 and gave the stock a “market perform” rating in a report on Tuesday. Scotiabank upped their price target on Power Co. of Canada from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. Finally, Desjardins lifted their target price on Power Co. of Canada from C$39.00 to C$40.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$42.30.

Power Co. of Canada Company Profile

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.