South Bow Co. Declares Quarterly Dividend of $0.50 (NYSE:SOBO)

South Bow Co. (NYSE:SOBO) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.50 per share on Friday, January 31st. This represents a $2.00 annualized dividend and a yield of 8.46%. The ex-dividend date is Tuesday, December 31st.

South Bow has a payout ratio of 114.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect South Bow to earn $1.69 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 118.3%.

South Bow Stock Performance

NYSE SOBO traded up $0.02 during trading on Friday, hitting $23.65. 824,074 shares of the company traded hands, compared to its average volume of 931,545. South Bow has a 12 month low of $21.12 and a 12 month high of $26.11.

Analysts Set New Price Targets

Several research firms recently weighed in on SOBO. Cibc World Mkts upgraded South Bow to a “hold” rating in a report on Friday, October 11th. Morgan Stanley began coverage on shares of South Bow in a research note on Friday, October 25th. They issued an “underweight” rating for the company. US Capital Advisors upgraded shares of South Bow to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group began coverage on shares of South Bow in a research report on Tuesday, October 8th. They set a “hold” rating for the company.

South Bow Company Profile

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.