Western Forest Products Inc (WEF) Plans Quarterly Dividend of $0.02

Western Forest Products Inc (TSE:WEF) declared a quarterly dividend on Thursday, November 30th, TickerTech reports. Shareholders of record on Friday, December 15th will be given a dividend of 0.02 per share on Friday, December 15th. This represents a $0.08 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Thursday, November 30th.

Western Forest Products (TSE:WEF) traded down C$0.01 during trading hours on Wednesday, reaching C$2.53. The company’s stock had a trading volume of 401,892 shares, compared to its average volume of 899,069. Western Forest Products has a 52-week low of C$1.79 and a 52-week high of C$2.84.

A number of brokerages have recently issued reports on WEF. TD Securities upped their price objective on Western Forest Products from C$2.75 to C$3.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. CIBC cut Western Forest Products from an “outperform” rating to a “neutral” rating in a research note on Monday, September 25th. Scotiabank upped their price objective on Western Forest Products from C$2.45 to C$2.55 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Finally, Raymond James Financial upped their price objective on Western Forest Products from C$3.25 to C$3.50 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of C$2.88.

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Western Forest Products Company Profile

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.

Dividend History for Western Forest Products (TSE:WEF)

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