Algoma Central (TSE:ALC) Shares Pass Above Fifty Day Moving Average - Should You Sell?

Key Points

• Algoma Central Co. experienced a stock price increase, trading at C$17.32, which is above its 50-day moving average of C$16.48.
• The company announced a quarterly dividend of $0.20 per share, representing a 4.6% dividend yield, with an ex-dividend date set for August 19th.
• Algoma Central's market capitalization stands at C$709.11 million with a PE ratio of 9.62, indicating a stable financial position.

Algoma Central Co. (TSE:ALC - Get Free Report) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$16.48 and traded as high as C$17.32. Algoma Central shares last traded at C$17.32, with a volume of 9,752 shares changing hands.

Algoma Central Stock Up 2.3%

The firm has a market capitalization of C$718.05 million, a PE ratio of 7.02 and a beta of 0.13. The stock has a 50-day simple moving average of C$16.57 and a 200-day simple moving average of C$15.79. The company has a quick ratio of 2.06, a current ratio of 0.76 and a debt-to-equity ratio of 50.70.

Algoma Central Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, September 2nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.80 annualized dividend and a yield of 4.5%. Algoma Central's dividend payout ratio (DPR) is 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.