Saputo Inc. (TSE:SAP) to Issue Quarterly Dividend of $0.17

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Saputo Inc. (TSE:SAP) declared a quarterly dividend on Friday, August 30th, TickerTech reports. Investors of record on Friday, September 13th will be given a dividend of 0.17 per share on Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, August 30th. This is a positive change from Saputo’s previous quarterly dividend of $0.17.

Saputo stock traded up C$0.33 during midday trading on Thursday, hitting C$40.16. 491,135 shares of the stock were exchanged, compared to its average volume of 459,618. Saputo has a 52-week low of C$35.56 and a 52-week high of C$46.41. The stock has a market capitalization of $15.47 billion and a price-to-earnings ratio of 20.81. The business’s 50-day moving average price is C$40.31 and its 200-day moving average price is C$42.70. The company has a quick ratio of 0.72, a current ratio of 1.62 and a debt-to-equity ratio of 44.23.

Saputo (TSE:SAP) last released its quarterly earnings results on Thursday, June 6th. The company reported C$0.32 earnings per share for the quarter, missing the consensus estimate of C$0.40 by C($0.08). The company had revenue of C$3.24 billion for the quarter, compared to analyst estimates of C$3.36 billion. On average, sell-side analysts predict that Saputo will post 2.0100001 earnings per share for the current fiscal year.

A number of research analysts have weighed in on SAP shares. Royal Bank of Canada dropped their target price on shares of Saputo from C$52.00 to C$50.00 and set an “outperform” rating on the stock in a research note on Friday, June 7th. Desjardins cut shares of Saputo from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. TD Securities boosted their target price on shares of Saputo from C$41.00 to C$45.00 and gave the company a “hold” rating in a research note on Friday, August 9th. CIBC dropped their target price on shares of Saputo from C$47.00 to C$43.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Finally, National Bank Financial boosted their target price on shares of Saputo from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of C$45.67.

Saputo Company Profile

Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and internationally. It offers cheese products, including mozzarella and cheddar; specialty cheese, such as ricotta, provolone, parmesan, goat cheese, feta, and havarti; fine cheese, such as brie and camembert; other cheese, including brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheese; and butter.

Further Reading: Holder of Record

Dividend History for Saputo (TSE:SAP)

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