Parkland Fuel Corp (TSE:PKI) to Issue Dividend Increase – $0.10 Per Share

Parkland Fuel Corp (TSE:PKI) announced a monthly dividend on Thursday, March 1st, Zacks reports. Stockholders of record on Thursday, March 22nd will be given a dividend of 0.098 per share on Friday, April 13th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Wednesday, March 21st. This is a positive change from Parkland Fuel’s previous monthly dividend of $0.10.

Shares of Parkland Fuel stock traded down C$0.10 during trading hours on Friday, reaching C$28.23. The company’s stock had a trading volume of 235,480 shares, compared to its average volume of 389,104. Parkland Fuel has a one year low of C$23.41 and a one year high of C$32.45.

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Parkland Fuel (TSE:PKI) last released its quarterly earnings results on Thursday, March 1st. The company reported C$0.37 EPS for the quarter. Parkland Fuel had a net margin of 0.49% and a return on equity of 3.28%. The firm had revenue of C$3.37 billion during the quarter.

In related news, Director Steven P. Richardson purchased 1,500 shares of the business’s stock in a transaction on Monday, March 5th. The shares were acquired at an average price of C$29.98 per share, for a total transaction of C$44,970.00. Also, insider Douglas Scott Haugh purchased 11,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were bought at an average price of C$23.29 per share, for a total transaction of C$256,190.00.

Several research firms have recently commented on PKI. Royal Bank of Canada boosted their price target on shares of Parkland Fuel from C$31.00 to C$32.00 and gave the company a “sector perform” rating in a report on Monday, March 5th. Canaccord Genuity boosted their price target on shares of Parkland Fuel from C$38.00 to C$40.00 in a report on Monday, March 5th. CIBC boosted their price target on shares of Parkland Fuel from C$33.00 to C$36.00 in a report on Monday, March 5th. Finally, Scotiabank boosted their price target on shares of Parkland Fuel from C$30.00 to C$32.50 and gave the company an “outperform” rating in a report on Friday, March 2nd.

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Parkland Fuel Company Profile

Parkland Fuel Corporation operates as an independent marketer and distributor of fuels and petroleum products in Canada and the United States. Its Retails Fuels segment supplies and supports a network of 1,848 retail gas stations under the Ultramar, Esso, Fas Gas Plus, Pioneer, Chevron, Race Trac, On the Run/Marché Express, Short Stop, Town Pantry, Dépanneur du Coin/Corner Store, Snack Express, Verve, and others brands, as well as operates convenience stores under the On the Run/Marché Express brand.

Dividend History for Parkland Fuel (TSE:PKI)

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