Algoma Central (TSE:ALC) Hits New 12-Month High - What's Next?

Key Points

• Algoma Central Co. shares reached a new 12-month high at C$17.50, showing an increase from the previous closing price of C$17.45.
• The company announced a quarterly dividend of $0.20 per share, representing an annualized dividend yield of 4.7%.
• Algoma Central has a market capitalization of C$698.05 million and operates a fleet of dry and liquid bulk carriers on the Great Lakes.

Shares of Algoma Central Co. (TSE:ALC - ) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$17.50 and last traded at C$17.50, with a volume of 5730 shares. The stock had previously closed at C$17.45.

Algoma Central Stock Down 2.3%

The company has a market cap of C$698.05 million, a price-to-earnings ratio of 9.47 and a beta of 0.72. The company has a current ratio of 0.76, a quick ratio of 2.06 and a debt-to-equity ratio of 50.70. The stock has a 50-day simple moving average of C$16.31 and a 200-day simple moving average of C$15.62.

Algoma Central Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, August 19th. Algoma Central's payout ratio is currently 42.19%.

About Algoma Central

Algoma Central Corp owns and operates the fleet of dry and liquid bulk carriers operating on the Great Lakes, St. Lawrence Waterway. The company's Canadian flag fleet consists of self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. The company operates its business through six segments that are Domestic Dry-Bulk, Product Tankers, Ocean SelfUnloaders, Corporate, Investment Properties, and Global Short Sea Shipping.

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