United Co.s (TSE:UNC) Trading 2.6% Higher Following Dividend Announcement

Key Points

• United Co.s Limited stock price increased by 2.6% following the company's dividend announcement, reaching C$14.30.
• The company will issue a $0.03 dividend to shareholders of record on November 4th, resulting in an annualized yield of 0.8%.
• United Co.s has a market capitalization of C$160.89 million and a P/E ratio of 0.40, indicating potential for long-term capital appreciation.

Shares of United Co.s Limited (TSE:UNC - Get Free Report) were up 2.6% on Thursday after the company announced a dividend. The company traded as high as C$14.32 and last traded at C$14.30. Approximately 13,990 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 11,588 shares. The stock had previously closed at C$13.94.

The newly announced dividend which will be paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. United Co.s's dividend payout ratio (DPR) is presently 3.40%.

United Co.s Stock Performance

The business's 50 day simple moving average is C$100.95 and its 200-day simple moving average is C$117.41. The stock has a market capitalization of C$159.65 million, a price-to-earnings ratio of 0.40 and a beta of 0.60.

About United Co.s

The objective of the Company is to earn an above-average rate of return, primarily through long-term capital appreciation and dividend income. Short-term volatility is expected and tolerated. Management remains confident that the Companys investment strategy will reward shareholders over the long-term.The investment portfolio of the Company comprises primarily foreign equities.