West Fraser Timber Co. Ltd. (WFT) Plans C$0.07 Quarterly Dividend
West Fraser Timber Co. Ltd. (TSE:WFT) announced a quarterly dividend on Tuesday, September 27th. Stockholders of record on Thursday, October 13th will be paid a dividend of 0.07 per share on Thursday, October 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Tuesday, September 27th.
WFT has been the subject of a number of research analyst reports. Raymond James Financial Inc. reduced their price objective on West Fraser Timber Co. from C$54.00 to C$49.00 in a report on Thursday, July 7th. TD Securities upgraded West Fraser Timber Co. from a “buy” rating to an “action list buy” rating and boosted their price objective for the stock from C$56.00 to C$60.00 in a report on Monday, July 25th. Royal Bank Of Canada cut West Fraser Timber Co. from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$54.00 to C$40.00 in a report on Friday, June 17th. CIBC reduced their price objective on West Fraser Timber Co. from C$51.00 to C$50.00 in a report on Tuesday, July 26th. Finally, Scotiabank reduced their price objective on West Fraser Timber Co. from C$60.00 to C$57.00 and set an “outperform” rating for the company in a report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. West Fraser Timber Co. presently has a consensus rating of “Buy” and a consensus price target of C$53.83.
Shares of West Fraser Timber Co. (TSE:WFT) opened at 42.38 on Thursday. West Fraser Timber Co. has a 12 month low of $35.35 and a 12 month high of $55.99. The company’s 50-day moving average price is $43.17 and its 200-day moving average price is $43.12. The firm has a market cap of $3.38 billion and a P/E ratio of 28.65.
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About West Fraser Timber Co.
West Fraser Timber Co Ltd. is a Canada-based integrated wood products company producing lumber, wood chips, laminated veneer lumber (LVL), medium density fiberboard (MDF), plywood, pulp, energy and newsprint. The Company has operations in western Canada and the southern United States. The Company’s operating segments are Lumber, Panels, and Pulp and Paper.
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