Algoma Central (TSE:ALC) Reaches New 1-Year High - Time to Buy?

Key Points

• Algoma Central Co. reached a new 52-week high stock price of C$17.88, closing at C$17.80 with a trading volume of 1,462 shares.
• The company announced a quarterly dividend of C$0.20, translating to an annualized dividend of C$0.80 and a yield of 4.5%.
• Algoma Central operates a fleet of dry and liquid bulk carriers across different segments, including Domestic Dry-Bulk and Product Tankers.

Algoma Central Co. (TSE:ALC - )'s stock price reached a new 52-week high on Thursday . The company traded as high as C$17.88 and last traded at C$17.80, with a volume of 1462 shares changing hands. The stock had previously closed at C$17.69.

Algoma Central Trading Up 0.5%

The business's 50-day moving average price is C$17.12 and its two-hundred day moving average price is C$16.30. The company has a debt-to-equity ratio of 50.70, a current ratio of 0.76 and a quick ratio of 2.06. The firm has a market cap of C$721.30 million, a price-to-earnings ratio of 7.06 and a beta of 0.16.

Algoma Central Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, September 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Algoma Central's payout ratio is currently 30.95%.

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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