Mainstreet Equity Corp. (TSE:MEQ) Increases Dividend to $0.04 Per Share

Mainstreet Equity Corp. (TSE:MEQ - Get Free Report) declared a quarterly dividend on Wednesday, July 9th, RTT News reports. Investors of record on Thursday, July 17th will be paid a dividend of 0.04 per share on Thursday, July 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.08%. This is a 48.1% increase from Mainstreet Equity's previous quarterly dividend of $0.03.

Mainstreet Equity Stock Up 0.3%

MEQ stock traded up C$0.66 during midday trading on Friday, hitting C$189.33. The stock had a trading volume of 786 shares, compared to its average volume of 4,596. The firm has a market cap of C$1.76 billion, a price-to-earnings ratio of 9.40 and a beta of 1.63. The business has a 50-day moving average of C$190.26 and a two-hundred day moving average of C$193.92. Mainstreet Equity has a 52-week low of C$166.34 and a 52-week high of C$216.37. The company has a debt-to-equity ratio of 109.80, a current ratio of 0.51 and a quick ratio of 0.81.

Wall Street Analyst Weigh In

Separately, ATB Capital upped their price target on Mainstreet Equity from C$220.00 to C$225.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th.

About Mainstreet Equity

Mainstreet Equity Corp. engages in the acquisition, redevelopment, repositioning, and management of mid-market residential rental apartment buildings in Western Canada. The company owns a portfolio of multi-family residential properties in British Columbia, Calgary, Edmonton, Saskatoon, Regina, and Winnipeg.