Power Co. of Canada (TSE:POW) Declares Dividend Increase – $0.56 Per Share

Power Co. of Canada (TSE:POW) announced a quarterly dividend on Wednesday, March 20th, Zacks reports. Shareholders 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 Trading Up 0.3 %

Shares of TSE POW traded up C$0.12 during midday trading on Tuesday, reaching C$38.24. The company had a trading volume of 2,095,565 shares, compared to its average volume of 2,733,938. Power Co. of Canada has a one year low of C$32.33 and a one year high of C$40.30. The company has a quick ratio of 107.64, a current ratio of 45.83 and a debt-to-equity ratio of 49.89. The firm’s fifty day moving average price is C$38.89 and its 200-day moving average price is C$37.22. The stock has a market cap of C$22.97 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.95 and a beta of 1.11.

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

Wall Street Analyst Weigh In

POW has been the topic of a number of research analyst reports. TD Securities downgraded Power Co. of Canada from a “buy” rating to a “hold” rating and upped their target price for the stock from C$40.00 to C$42.00 in a report on Friday. National Bankshares upped their target price on Power Co. of Canada from C$39.00 to C$41.00 in a report on Thursday, March 21st. BMO Capital Markets boosted their price target on Power Co. of Canada from C$38.00 to C$41.00 in a research report on Friday, March 15th. Royal Bank of Canada raised Power Co. of Canada from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$41.00 to C$45.00 in a research report on Thursday, January 4th. Finally, CIBC boosted their price target on Power Co. of Canada from C$40.00 to C$43.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Power Co. of Canada presently has an average rating of “Hold” and an average target price of C$41.78.

Power Co. of Canada Company Profile

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.