Mullen Group Ltd to Issue Monthly Dividend of $0.05 (TSE:MTL)

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Mullen Group Ltd (TSE:MTL) declared a monthly dividend on Thursday, June 20th, Zacks reports. Investors of record on Sunday, June 30th will be given a dividend of 0.05 per share on Monday, July 15th. This represents a $0.60 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Thursday, June 27th.

MTL stock traded up C$0.04 during midday trading on Wednesday, reaching C$9.85. The company had a trading volume of 62,052 shares, compared to its average volume of 317,526. The stock has a market capitalization of $989.55 million and a P/E ratio of -30.47. The company’s 50 day simple moving average is C$9.86. Mullen Group has a 1-year low of C$9.36 and a 1-year high of C$16.93. The company has a debt-to-equity ratio of 61.72, a current ratio of 1.82 and a quick ratio of 1.50.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Wednesday, April 24th. The company reported C$0.10 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.11 by C($0.01). The company had revenue of C$319.60 million during the quarter, compared to analyst estimates of C$304.83 million. Research analysts anticipate that Mullen Group will post 0.6600001 EPS for the current year.

MTL has been the subject of several research analyst reports. Raymond James lowered their target price on Mullen Group from C$15.25 to C$14.50 in a research note on Thursday, April 25th. Canaccord Genuity boosted their target price on Mullen Group from C$13.50 to C$13.75 in a research note on Wednesday, March 20th. TD Securities raised Mullen Group from a “hold” rating to a “buy” rating and set a C$13.50 target price for the company in a research note on Monday. Royal Bank of Canada lowered their target price on Mullen Group from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, National Bank Financial set a C$16.00 price target on Mullen Group and gave the stock an “outperform” rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$14.03.

Mullen Group Company Profile

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods.

Further Reading: What are retained earnings?

Dividend History for Mullen Group (TSE:MTL)

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