Boise Cascade, L.L.C. (NYSE:BCC) Declares Quarterly Dividend of $0.23

Key Points

• Boise Cascade raised its quarterly dividend 4.5% to $0.23 per share, payable September 16 to shareholders of record September 1. The annualized dividend is $0.92, yielding approximately 1.2%.
• The dividend appears well covered, with a current payout ratio of 10.9% and an expected future payout ratio of 15.9%; the company has increased its dividend for six consecutive years.
• Analyst sentiment is moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $92.80, compared with the stock’s reported opening price of $75.45.

Boise Cascade, L.L.C. (NYSE:BCC - Get Free Report) declared a quarterly dividend on Thursday, July 30th. Investors of record on Tuesday, September 1st will be paid a dividend of 0.23 per share by the construction company on Wednesday, September 16th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 4.5% increase from Boise Cascade's previous quarterly dividend of $0.22.

Boise Cascade has decreased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Boise Cascade has a payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Boise Cascade to earn $5.53 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 15.9%.

Boise Cascade Stock Performance

Boise Cascade stock opened at $75.45 on Friday. The firm's 50 day simple moving average is $73.58 and its 200 day simple moving average is $76.97. The company has a current ratio of 2.77, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.66 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08. Boise Cascade has a 1-year low of $65.00 and a 1-year high of $91.97.

Boise Cascade (NYSE:BCC - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The construction company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.43 by $0.07. Boise Cascade had a net margin of 1.73% and a return on equity of 5.55%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm earned $1.06 EPS. The business's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, analysts expect that Boise Cascade will post 3.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BCC has been the topic of a number of research analyst reports. DA Davidson decreased their price target on shares of Boise Cascade from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Zacks Research upgraded Boise Cascade from a "hold" rating to a "strong-buy" rating in a report on Friday, July 17th. Truist Financial set a $97.00 price objective on Boise Cascade in a report on Wednesday, May 6th. Weiss Ratings upgraded Boise Cascade from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. Finally, Bank of America increased their price target on shares of Boise Cascade from $80.00 to $81.00 and gave the company an "underperform" rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Boise Cascade has a consensus rating of "Moderate Buy" and an average price target of $92.80.

About Boise Cascade

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company's operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

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