Saputo Inc. (TSE:SAP) Announces Quarterly Dividend of $0.21

Saputo Inc. (TSE:SAP) declared a quarterly dividend on Tuesday, September 15th. Investors of record on Friday, September 25th will be paid a dividend of 0.21 per share on Friday, September 25th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 15th. This is a 5.0% increase from Saputo’s previous quarterly dividend of $0.20.

Saputo Stock Down 0.5%

TSE:SAP traded down C$0.18 during mid-day trading on Friday, hitting C$39.39. 417,169 shares of the company’s stock were exchanged, compared to its average volume of 933,328. Saputo has a one year low of C$32.49 and a one year high of C$45.09. The company has a debt-to-equity ratio of 41.86, a current ratio of 1.51 and a quick ratio of 0.67. The business has a fifty day moving average price of C$40.90 and a 200 day moving average price of C$41.46. The company has a market cap of C$15.64 billion, a PE ratio of 31.77, a P/E/G ratio of 0.56 and a beta of 0.21.

Saputo (TSE:SAP) last announced its earnings results on Thursday, August 6th. The company reported C$0.01 earnings per share for the quarter. Saputo had a net margin of 2.80% and a return on equity of 7.45%. The business had revenue of C$4.42 billion during the quarter. Equities analysts predict that Saputo will post 1.7735369 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. TD raised their price objective on Saputo from C$51.00 to C$53.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Ventum Financial set a C$49.00 target price on Saputo and gave the stock a “buy” rating in a research note on Monday, August 10th. Ventum Capital lifted their price target on Saputo from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. National Bank Financial upped their price target on shares of Saputo from C$44.00 to C$45.00 and gave the stock a “sector perform” rating in a research note on Monday, August 10th. Finally, TD Securities raised shares of Saputo to a “strong-buy” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$47.18.

About Saputo

Saputo, one of the top ten dairy processors in the world, produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. Saputo is a leading cheese manufacturer and fluid milk and cream processor in Canada and a leading dairy processor in Australia. In the USA, Saputo ranks among the top three cheese producers and is one of the top producers of extended shelf-life and cultured dairy products.