Acadian Timber Corp (TSE:ADN) Declares Quarterly Dividend of $0.28
Acadian Timber Corp (TSE:ADN) announced a quarterly dividend on Monday, July 31st, Zacks reports. Stockholders of record on Saturday, September 30th will be given a dividend of 0.275 per share on Friday, October 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Thursday, September 28th.
Acadian Timber Corp (ADN) remained flat at $18.40 during midday trading on Tuesday. 13,000 shares of the stock traded hands. The firm has a market capitalization of $307.50 million and a PE ratio of 21.10. The stock’s 50 day moving average price is $18.81 and its 200 day moving average price is $18.25. Acadian Timber Corp has a 12-month low of $16.82 and a 12-month high of $19.60.
Separately, Scotiabank cut shares of Acadian Timber Corp from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$19.25 to C$18.50 in a report on Friday.
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About Acadian Timber Corp
Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates in two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands.
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