Canadian Utilities Limited (CU) Announces Dividend Increase – $0.36 Per Share
Canadian Utilities Limited (TSE:CU) announced a quarterly dividend on Thursday, July 13th, Zacks reports. Stockholders of record on Thursday, August 10th will be given a dividend of 0.357 per share on Friday, September 1st. This represents a $1.43 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Tuesday, August 8th. This is a boost from Canadian Utilities Limited’s previous quarterly dividend of $0.23.
Shares of Canadian Utilities Limited (CU) traded up 0.58% during mid-day trading on Thursday, hitting $39.73. 65,367 shares of the company were exchanged. The stock’s 50-day moving average price is $41.28 and its 200 day moving average price is $39.21. Canadian Utilities Limited has a 12-month low of $34.83 and a 12-month high of $42.44. The stock has a market cap of $10.66 billion and a PE ratio of 18.05.
In other news, insider Roberta L. Lambright sold 4,000 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of C$41.20, for a total transaction of C$164,800.00. Also, Director Nancy C. Southern bought 40,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were acquired at an average price of C$22.17 per share, for a total transaction of C$886,800.00. Insiders have sold 5,362 shares of company stock valued at $220,748 over the last quarter.
CU has been the subject of a number of recent research reports. Barclays PLC upped their target price on Canadian Utilities Limited from C$38.00 to C$40.00 in a research note on Friday, April 21st. TD Securities upped their target price on Canadian Utilities Limited from C$39.00 to C$41.00 and gave the company a “hold” rating in a research note on Thursday, April 27th. Finally, National Bank Financial lowered Canadian Utilities Limited from an “outperform” rating to a “sector perform” rating and set a C$45.00 target price for the company. in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$41.20.
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About Canadian Utilities Limited
Canadian Utilities Limited is a global enterprise company. Its segments include Electricity, Pipeline & Liquids, and Corporate & Other. Its Electricity segment’s activities are conducted through two regulated businesses; ATCO Electric Distribution and ATCO Electric Transmission, and three non-regulated businesses, ATCO Power, ATCO Power Australia and Alberta PowerLine (APL).
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