Connect Group PLC (CNCT) to Issue Dividend Increase – GBX 6.70 Per Share

Connect Group PLC (LON:CNCT) declared a dividend on Thursday, October 26th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, January 11th will be paid a dividend of GBX 6.70 ($0.09) per share on Friday, February 9th. This represents a dividend yield of 6.09%. The ex-dividend date is Thursday, January 11th. This is a boost from Connect Group’s previous dividend of $3.10. The official announcement can be seen at this link.

Connect Group (LON CNCT) traded down GBX 1.80 ($0.02) during mid-day trading on Friday, reaching GBX 108.20 ($1.47). The company had a trading volume of 186,007 shares, compared to its average volume of 150,915. Connect Group has a one year low of GBX 88 ($1.19) and a one year high of GBX 158.23 ($2.15). The company has a market cap of $267.97 and a price-to-earnings ratio of 983.64.

In related news, insider Mark Cashmore bought 38,100 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average cost of GBX 105 ($1.42) per share, for a total transaction of £40,005 ($54,251.42). Also, insider Jonathan Bunting sold 45,972 shares of Connect Group stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of GBX 117 ($1.59), for a total value of £53,787.24 ($72,941.74).

A number of research firms recently weighed in on CNCT. Shore Capital reaffirmed a “buy” rating on shares of Connect Group in a research report on Thursday, November 16th. Peel Hunt reiterated an “add” rating and set a GBX 135 ($1.83) target price on shares of Connect Group in a research note on Monday, January 8th. FinnCap reiterated a “buy” rating and set a GBX 154 ($2.09) target price on shares of Connect Group in a research note on Monday, December 4th. Finally, JPMorgan Chase & Co. increased their target price on Connect Group from GBX 144 ($1.95) to GBX 145 ($1.97) and gave the company an “overweight” rating in a research note on Friday, October 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of GBX 157.80 ($2.14).

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Connect Group Company Profile

Connect Group PLC is a United Kingdom-based distribution company. The Company’s segments include Connect News & Media: News Distribution (Smiths News); Connect News & Media: Media (DMD); Connect Parcel Freight (Tuffnells); and Connect Books (Bertrams, Dawson Books and Wordery). Smiths News segment distributes newspapers and magazines to approximately 30,000 retailers across England and Wales from over 40 distribution centers.

Dividend History for Connect Group (LON:CNCT)

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