South Bow Corporation (NYSE:SOBO) Declares $0.50 Quarterly Dividend

Key Points

• South Bow Corporation has declared a quarterly dividend of $0.50 per share, which will be paid on October 15th to shareholders of record as of September 29th.
• The company's dividend payout ratio is currently at 109.9%, indicating it is relying on its balance sheet to cover dividend payments due to insufficient earnings.
• South Bow reported earnings of $0.42 per share for the last quarter, surpassing analysts' expectations of $0.38, with revenues totaling $524 million compared to estimates of $449 million.

South Bow Corporation (NYSE:SOBO - Get Free Report) declared a quarterly dividend on Friday, August 8th, Wall Street Journal reports. Shareholders of record on Monday, September 29th will be given a dividend of 0.50 per share on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 7.3%. The ex-dividend date is Monday, September 29th.

South Bow has a payout ratio of 109.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect South Bow to earn $1.71 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 117.0%.

South Bow Stock Up 0.8%

Shares of SOBO traded up $0.21 during trading hours on Friday, hitting $27.39. 650,887 shares of the company were exchanged, compared to its average volume of 850,198. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.20 and a current ratio of 1.29. The company has a market cap of $5.70 billion and a PE ratio of 14.80. The firm's 50 day moving average is $26.36 and its 200-day moving average is $25.55. South Bow has a 52 week low of $21.12 and a 52 week high of $28.04.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The firm had revenue of $524.00 million during the quarter, compared to analyst estimates of $449.00 million. On average, equities research analysts forecast that South Bow will post 1.74 EPS for the current fiscal year.

About South Bow

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.

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