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

Power Co. of Canada (TSE:POW) announced a quarterly dividend on Wednesday, March 20th, Zacks reports. Investors of record on Thursday, March 28th will be paid a dividend of 0.563 per share by the financial services provider on Wednesday, May 1st. This represents a $2.25 annualized dividend and a yield of 5.89%. The ex-dividend date is Wednesday, March 27th. This is an increase from Power Co. of Canada’s previous quarterly dividend of $0.53.

Power Co. of Canada Stock Up 0.3 %

Power Co. of Canada stock traded up C$0.12 during trading on Tuesday, hitting C$38.24. 2,095,565 shares of the company were exchanged, compared to its average volume of 2,733,938. The business’s 50 day moving average is C$38.89 and its 200 day moving average is C$37.22. Power Co. of Canada has a 52 week low of C$32.33 and a 52 week high of C$40.30. The company has a market capitalization of C$22.97 billion, a P/E ratio of 15.13, a PEG ratio of 0.95 and a beta of 1.11. The company has a current ratio of 45.83, a quick ratio of 107.64 and a debt-to-equity ratio of 49.89.

Power Co. of Canada (TSE:POW) last announced its quarterly earnings data on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.00 by C($0.11). The business had revenue of C$21.37 billion during the quarter. Power Co. of Canada had a net margin of 3.29% and a return on equity of 7.08%. Analysts predict that Power Co. of Canada will post 4.4763006 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets upped their price objective on Power Co. of Canada from C$38.00 to C$41.00 in a research note on Friday, March 15th. Desjardins upped their price target on Power Co. of Canada from C$39.00 to C$40.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada raised Power Co. of Canada from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$41.00 to C$45.00 in a research report on Thursday, January 4th. CIBC upped their price target on Power Co. of Canada from C$40.00 to C$43.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Finally, TD Securities cut Power Co. of Canada from a “buy” rating to a “hold” rating and upped their price target for the company from C$40.00 to C$42.00 in a research report on Friday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Power Co. of Canada currently has a consensus rating of “Hold” and an average price target of C$41.78.

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, disability, critical illness, accidental death, dismemberment, health and dental protection, and creditor insurance; retirement and investment management; fund and asset management; reinsurance and retrocession; investment advisory, financial planning, and related services; fund products; and protection and wealth management services.