Velan (VLN) Hits New 12-Month Low at $10.75

Velan Inc. (TSE:VLN) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as C$10.75 and last traded at C$10.75, with a volume of 2400 shares trading hands. The stock had previously closed at C$11.00.

Velan (TSE:VLN) last posted its quarterly earnings results on Thursday, October 11th. The company reported C($0.15) EPS for the quarter. The business had revenue of C$119.66 million for the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, December 13th.

In other Velan news, insider Edward James Kernaghan purchased 11,300 shares of the firm’s stock in a transaction on Thursday, October 4th. The shares were purchased at an average cost of C$11.40 per share, with a total value of C$128,820.00. Insiders have acquired 13,600 shares of company stock worth $154,752 over the last three months.

Velan Company Profile (TSE:VLN)

Velan Inc designs, manufactures, and markets industrial valves worldwide. It offers cryogenic valves comprising cast steel cryogenic, small forged cryogenic, cryogenic triple-offset, ball, and cryogenic control valves; gate, globe, and check valves, including pressure seal, cast steel, small forged, dual-plate check, bolted bonnet high pressure, cast stainless steel corrosion resistant, bonnetless, and knife gate valves, as well as maintenance valves for nuclear service; and quarter-turn valves, such as ball, metal-seated ball, forged ball, power ball, high performance three-piece ball, general purpose ball, triple-offset butterfly, high performance cryogenic butterfly, coker ball, and cap-tight batch digester capping valves.

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