Power Co. of Canada (TSE:POW) Announces Quarterly Dividend of $0.56

Power Co. of Canada (TSE:POW) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.563 per share by the financial services provider on Friday, November 1st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Friday, September 27th.

Power Co. of Canada Price Performance

POW opened at C$43.11 on Thursday. Power Co. of Canada has a twelve month low of C$32.33 and a twelve month high of C$43.23. The firm has a market cap of C$25.54 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.95 and a beta of 1.09. The company has a current ratio of 91.78, a quick ratio of 107.64 and a debt-to-equity ratio of 48.53. The company has a fifty day simple moving average of C$40.06 and a 200 day simple moving average of C$39.02.

Power Co. of Canada (TSE:POW) last announced its earnings results on Thursday, August 8th. The financial services provider reported C$1.17 earnings per share for the quarter, beating the consensus estimate of C$1.12 by C$0.05. Power Co. of Canada had a return on equity of 11.29% and a net margin of 8.29%. The company had revenue of C$9.91 billion during the quarter. Equities research analysts expect that Power Co. of Canada will post 4.9731622 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada upped their target price on Power Co. of Canada from C$46.00 to C$47.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th. Desjardins upped their price target on shares of Power Co. of Canada from C$43.00 to C$44.00 and gave the company a “buy” rating in a report on Monday, August 12th. TD Securities upgraded shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. CIBC dropped their target price on shares of Power Co. of Canada from C$43.00 to C$40.00 in a research report on Friday, August 9th. Finally, Jefferies Financial Group reduced their price target on shares of Power Co. of Canada from C$45.00 to C$44.00 in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$43.28.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.