Algoma Central (TSE:ALC) Share Price Passes Below 200 Day Moving Average – Here’s Why

Algoma Central Co. (TSE:ALC)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$14.64 and traded as low as C$14.62. Algoma Central shares last traded at C$14.62, with a volume of 7,400 shares trading hands.

Algoma Central Stock Down 0.9 %

The company’s 50-day simple moving average is C$14.86 and its 200 day simple moving average is C$14.64. The company has a debt-to-equity ratio of 56.47, a current ratio of 0.65 and a quick ratio of 2.06. The firm has a market cap of C$593.13 million, a P/E ratio of 8.81 and a beta of 0.72.

Algoma Central Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. The ex-dividend date was Monday, November 18th. This represents a $0.76 annualized dividend and a yield of 5.20%. Algoma Central’s payout ratio is currently 45.78%.

About Algoma Central

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates through Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segments. The company operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, and salt producers as well as, agricultural product distributors.