Norbord Inc (OSB) Declares Dividend Increase – $0.60 Per Share

Norbord Inc (TSE:OSB) declared a quarterly dividend on Thursday, October 26th, Zacks reports. Investors of record on Friday, December 1st will be paid a dividend of 0.60 per share on Thursday, December 21st. This represents a $2.40 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Norbord’s previous quarterly dividend of $0.40.

Norbord (TSE OSB) traded up C$0.53 on Friday, hitting C$42.57. 234,464 shares of the company’s stock traded hands, compared to its average volume of 413,772. Norbord has a twelve month low of C$31.38 and a twelve month high of C$51.75.

In other Norbord news, Director Houston Paul sold 21,378 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of C$46.80, for a total value of C$1,000,490.40. Also, insider Peter Cornelius Wijnbergen sold 8,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of C$46.00, for a total transaction of C$368,000.00.

A number of analysts recently weighed in on OSB shares. CIBC reduced their price objective on shares of Norbord from C$54.00 to C$50.00 in a research report on Tuesday, October 31st. CSFB increased their price objective on shares of Norbord from C$50.00 to C$54.00 in a research note on Friday, October 20th. Scotiabank reiterated an “outperform” rating and set a C$44.25 price objective on shares of Norbord in a research note on Friday, August 18th. TD Securities dropped their price objective on shares of Norbord to C$50.00 and set a “hold” rating on the stock in a research note on Tuesday, October 31st. Finally, BMO Capital Markets reaffirmed an “underperform” rating and issued a C$32.00 price target on shares of Norbord in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of C$50.00.

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Norbord Company Profile

Norbord Inc is a Canada-based producer of wood-based panels. The Company is engaged in manufacturing, sales, marketing and distribution of panelboards and related products used in the construction of new homes or the renovation and repair of existing structures. Its geographic segments include North America and Europe.

Dividend History for Norbord (TSE:OSB)

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