Exchange Income Co. (TSE:EIF) Raises Dividend to $0.18 Per Share
Exchange Income Co. (TSE:EIF) declared a monthly dividend on Monday, July 17th, Zacks reports. Stockholders of record on Monday, July 31st will be paid a dividend of 0.175 per share on Tuesday, August 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date is Thursday, July 27th. This is a positive change from Exchange Income’s previous monthly dividend of $0.16.
Exchange Income (TSE EIF) traded up 1.75% during mid-day trading on Tuesday, reaching $31.93. The company had a trading volume of 94,577 shares. The firm has a market capitalization of $994.40 million and a price-to-earnings ratio of 16.43. The firm has a 50-day moving average price of $33.22 and a 200 day moving average price of $37.73. Exchange Income has a 12-month low of $28.63 and a 12-month high of $45.28.
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In other news, Director Edward Warkentin acquired 1,375 shares of the stock in a transaction dated Thursday, May 11th. The stock was purchased at an average cost of C$35.45 per share, with a total value of C$48,743.75. Also, insider Adam Terwin acquired 4,000 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were purchased at an average cost of C$34.40 per share, with a total value of C$137,600.00. Over the last ninety days, insiders have bought 15,543 shares of company stock valued at $524,662.
Several analysts have weighed in on EIF shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a C$38.00 price target on shares of Exchange Income in a research note on Friday, July 7th. Canaccord Genuity lowered their price target on shares of Exchange Income from C$49.00 to C$44.00 and set a “buy” rating for the company in a research note on Thursday, May 11th. TD Securities raised shares of Exchange Income from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$44.00 to C$45.00 in a research note on Thursday, May 11th. Finally, Scotiabank lowered their price target on shares of Exchange Income from C$44.00 to C$43.00 and set an “outperform” rating for the company in a research note on Thursday, May 11th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Exchange Income has a consensus rating of “Buy” and a consensus target price of C$45.22.
About Exchange Income
Exchange Income Corporation is focused on opportunities in aerospace and aviation services and equipment, and manufacturing. The Company operates through two segments: Aviation and Manufacturing. The Aviation segment provides scheduled airline and charter service, and emergency medical services to communities located in Manitoba, Ontario and Nunavut.
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