Cogeco Inc. (CGO) Raises Dividend to $0.34 Per Share
Cogeco Inc. (TSE:CGO) announced a quarterly dividend on Monday, July 17th, Zacks reports. Investors of record on Thursday, July 27th will be given a dividend of 0.34 per share on Thursday, August 10th. This represents a $1.36 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, July 25th. This is a positive change from Cogeco’s previous quarterly dividend of $0.20.
Cogeco (CGO) traded up 0.89% during mid-day trading on Tuesday, reaching $72.85. The company had a trading volume of 8,146 shares. Cogeco has a 12 month low of $47.55 and a 12 month high of $73.01. The stock’s 50-day moving average is $67.31 and its 200 day moving average is $63.07. The firm has a market capitalization of $1.21 billion and a P/E ratio of 10.48.
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CGO has been the subject of several analyst reports. TD Securities upped their target price on Cogeco from C$89.00 to C$95.00 in a report on Monday. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Cogeco in a report on Tuesday, July 4th. Finally, Barclays PLC upped their target price on Cogeco from C$56.00 to C$60.00 in a report on Tuesday, April 11th.
Cogeco Inc is a holding company, which operates in the communications and media sectors. The Company operates through two segments: Communications and Other. The Communications segment, through the Company’s subsidiary, Cogeco Communications Inc (Cogeco Communications), provides its residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks.
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