Western Forest Products Inc Declares Quarterly Dividend of $0.02 (WEF)
Western Forest Products Inc (TSE:WEF) announced a quarterly dividend on Thursday, August 3rd, Zacks reports. Investors of record on Friday, September 1st will be given a dividend of 0.02 per share on Friday, September 15th. This represents a $0.08 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Wednesday, August 30th.
Western Forest Products (TSE:WEF) remained flat at $2.59 during midday trading on Friday. 423,321 shares of the company were exchanged. Western Forest Products has a 1-year low of $1.79 and a 1-year high of $2.59. The firm’s 50-day moving average is $2.38 and its 200 day moving average is $2.17. The company has a market capitalization of $1.02 billion and a P/E ratio of 11.02.
WEF has been the subject of a number of research analyst reports. Royal Bank Of Canada downgraded shares of Western Forest Products from an “outperform” rating to a “sector perform” rating and set a C$2.25 target price for the company. in a research report on Wednesday, April 19th. TD Securities reiterated a “buy” rating and issued a C$2.75 target price on shares of Western Forest Products in a research report on Friday, May 5th. CIBC increased their target price on shares of Western Forest Products from C$2.25 to C$2.50 in a research report on Wednesday, May 10th. Scotiabank reiterated an “outperform” rating and issued a C$2.45 target price on shares of Western Forest Products in a research report on Thursday, May 4th. Finally, Raymond James Financial, Inc. increased their target price on shares of Western Forest Products from C$2.75 to C$3.10 and gave the stock a “strong-buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of C$2.73.
In related news, Director Daniel Louis Nocente bought 20,000 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was bought at an average price of C$2.23 per share, for a total transaction of C$44,600.00. Also, insider Stephen D.A. Williams bought 30,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was bought at an average price of C$2.12 per share, with a total value of C$63,600.00. In the last quarter, insiders acquired 243,100 shares of company stock valued at $528,079.
About Western Forest Products
Western Forest Products Inc is a softwood forest products company, operating in the coastal region of British Columbia. The Company’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and lumber remanufacturing. The Company’s log and lumber products are sold throughout the world.
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