Stantec Inc. (NYSE:STN) Increases Dividend to $0.16 Per Share

Stantec Inc. (NYSE:STN) (TSE:STN) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Friday, March 28th will be paid a dividend of 0.1574 per share by the business services provider on Tuesday, April 15th. This represents a $0.63 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, March 28th. This is a 1.5% increase from Stantec’s previous quarterly dividend of $0.16.

Stantec has increased its dividend payment by an average of 8.4% annually over the last three years and has increased its dividend every year for the last 13 years. Stantec has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Stantec to earn $3.45 per share next year, which means the company should continue to be able to cover its $0.63 annual dividend with an expected future payout ratio of 18.3%.

Stantec Trading Up 0.5 %

STN opened at $83.86 on Wednesday. The business has a fifty day moving average price of $80.04 and a 200 day moving average price of $81.12. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 1.42. Stantec has a 12 month low of $73.18 and a 12 month high of $90.24. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 38.12 and a beta of 1.04.

Analysts Set New Price Targets

Separately, Raymond James upgraded shares of Stantec from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

About Stantec

Stantec Inc provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally. It offers evaluation, planning, and designing infrastructure solutions; solutions for sustainable water resources, planning, management, and infrastructure; environmental services; integrated architecture, engineering, interior design, and planning solutions for buildings; and energy and resources solutions.