Norbord Inc (OSB) Raises Dividend to $0.60 Per Share
Norbord Inc (TSE:OSB) announced a quarterly dividend on Thursday, October 26th, Zacks reports. Investors of record on Friday, December 1st will be paid a dividend of 0.60 per share on Thursday, December 21st. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Thursday, November 30th. This is a positive change from Norbord’s previous quarterly dividend of $0.40.
Shares of Norbord (TSE OSB) opened at C$44.86 on Friday. Norbord has a 12-month low of C$31.38 and a 12-month high of C$51.75.
OSB has been the subject of several analyst reports. TD Securities lowered their price objective on Norbord to C$50.00 and set a “hold” rating for the company in a research note on Tuesday, October 31st. CIBC raised their price objective on Norbord from C$53.00 to C$54.00 in a research note on Thursday, October 19th. CSFB raised their price target on Norbord from C$50.00 to C$54.00 in a research note on Friday, October 20th. BMO Capital Markets raised their price target on Norbord from C$28.00 to C$31.00 and gave the stock a “market perform” rating in a research note on Monday, July 31st. Finally, Scotiabank reissued an “outperform” rating and set a C$55.00 price target on shares of Norbord in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$50.00.
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Norbord Company Profile
Norbord Inc is a Canada-based producer of wood-based panels. The Company is engaged in manufacturing, sales, marketing and distribution of panelboards and related products used in the construction of new homes or the renovation and repair of existing structures. Its geographic segments include North America and Europe.
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