Toromont Industries Ltd. Declares Quarterly Dividend of $0.19 (TIH)
Toromont Industries Ltd. (TSE:TIH) announced a quarterly dividend on Thursday, December 7th, TickerTech reports. Shareholders of record on Wednesday, January 3rd will be given a dividend of 0.19 per share on Wednesday, January 3rd. This represents a $0.76 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, December 7th.
Toromont Industries (TSE TIH) traded down C$0.85 during midday trading on Friday, reaching C$55.90. The company’s stock had a trading volume of 275,600 shares, compared to its average volume of 114,891. Toromont Industries has a 12-month low of C$41.10 and a 12-month high of C$58.44.
Several equities research analysts have commented on the company. National Bank Financial boosted their target price on Toromont Industries from C$60.00 to C$63.00 and gave the company a “sector perform” rating in a research note on Thursday, November 9th. Scotiabank boosted their target price on Toromont Industries from C$53.00 to C$59.00 and gave the company a “sector perform” rating in a research note on Thursday, November 9th. Raymond James Financial boosted their target price on Toromont Industries from C$58.50 to C$63.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. BMO Capital Markets restated a “market perform” rating and issued a C$58.00 target price on shares of Toromont Industries in a research note on Monday, October 16th. Finally, TD Securities upgraded Toromont Industries from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$48.00 to C$65.00 in a research note on Wednesday, September 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of C$57.63.
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Toromont Industries Company Profile
Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.
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