Canadian Tire Co., Limited (TSE:CTC) to Issue Dividend Increase – $1.78 Per Share

Canadian Tire Co., Limited (TSE:CTC) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Friday, January 31st will be given a dividend of 1.775 per share on Saturday, March 1st. This represents a $7.10 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, January 31st. This is a boost from Canadian Tire’s previous quarterly dividend of $1.75.

Canadian Tire Stock Up 3.6 %

Canadian Tire stock traded up C$8.01 during mid-day trading on Friday, reaching C$228.01. The stock had a trading volume of 783 shares, compared to its average volume of 371. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. The company has a market capitalization of C$779.79 million, a price-to-earnings ratio of 33.29, a PEG ratio of 0.49 and a beta of 1.33. Canadian Tire has a one year low of C$202.00 and a one year high of C$288.08. The company has a 50-day moving average price of C$229.32 and a two-hundred day moving average price of C$227.99.

Canadian Tire (TSE:CTC) last released its quarterly earnings data on Thursday, August 8th. The company reported C$3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.46 by C$1.10. The business had revenue of C$4.13 billion for the quarter, compared to analysts’ expectations of C$4.07 billion. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%. On average, analysts expect that Canadian Tire will post 13.6961722 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, TD Securities raised Canadian Tire from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th.

About Canadian Tire

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. It operates in three segments: Retail, CT REIT, and Financial Services. The Retail segment retails automotive maintenance products and accessories, parts, and tires, as well as automotive services and roadside assistance; electrical, hardware, home environment, paint, plumbing, and tool products; cleaning, food & drink, home décor, home essentials, home organization, kitchen, and pet care products; camping, exercise, hockey, hunting, fishing, seasonal recreation, and team sports and golf products; and backyard living, backyard fun, cycling, gardening, outdoor tools, seasonal, and toy products.