Cascades Inc. (TSE:CAS) Announces $0.12 Quarterly Dividend

Cascades Inc. (TSE:CAS - Get Free Report) declared a quarterly dividend on Thursday, May 22nd, TickerTech Dividends reports. Investors of record on Thursday, June 5th will be given a dividend of 0.12 per share on Thursday, June 5th. This represents a $0.48 annualized dividend and a yield of 5.57%. The ex-dividend date is Thursday, May 22nd.

Cascades Trading Down 0.3%

CAS traded down C$0.03 on Friday, hitting C$8.62. 286,358 shares of the company were exchanged, compared to its average volume of 267,931. The firm has a fifty day simple moving average of C$9.18 and a two-hundred day simple moving average of C$10.92. The company has a debt-to-equity ratio of 121.37, a quick ratio of 0.86 and a current ratio of 1.22. Cascades has a 12 month low of C$8.30 and a 12 month high of C$13.42. The stock has a market capitalization of C$871.92 million, a PE ratio of -11.63, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CAS shares. TD Securities lowered Cascades from a "buy" rating to a "hold" rating and reduced their price target for the stock from C$12.00 to C$9.50 in a research report on Friday, May 9th. CIBC dropped their price objective on Cascades from C$13.00 to C$10.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada dropped their price objective on Cascades from C$13.00 to C$11.00 and set a "sector perform" rating for the company in a report on Tuesday, April 22nd. Scotiabank upgraded Cascades from a "hold" rating to a "strong-buy" rating and increased their price objective for the stock from C$12.00 to C$15.50 in a report on Monday, January 27th. Finally, National Bankshares dropped their price objective on Cascades from C$14.00 to C$11.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cascades presently has an average rating of "Hold" and an average price target of C$11.40.

Insider Activity

In other news, Senior Officer Allan Hogg sold 29,496 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of C$8.75, for a total value of C$258,090.00. Also, Senior Officer Luc Langevin sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of C$9.82, for a total value of C$88,380.00. 23.78% of the stock is currently owned by company insiders.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.