Tree Island Steel Ltd. (TSL) to Issue Quarterly Dividend of C$0.02 on October 14th

Tree Island Steel Ltd. (TSE:TSL) declared a quarterly dividend on Wednesday, September 28th. Shareholders of record on Friday, October 14th will be given a dividend of 0.02 per share on Friday, October 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Wednesday, September 28th.

Tree Island Steel (TSE:TSL) traded up 0.65% on Friday, hitting $6.24. 65,034 shares of the company’s stock traded hands. The stock has a market cap of $193.96 million and a P/E ratio of 8.24. The stock has a 50 day moving average price of $5.30 and a 200-day moving average price of $4.03. Tree Island Steel has a 12 month low of $2.74 and a 12 month high of $6.34.

Several equities research analysts have recently commented on the stock. Raymond James Financial Inc. upped their price target on shares of Tree Island Steel from C$5.75 to C$6.25 in a research report on Thursday, July 28th. Paradigm Capital increased their target price on shares of Tree Island Steel from C$5.50 to C$5.75 in a report on Thursday, July 28th. Finally, Cormark raised shares of Tree Island Steel from a “market perform” rating to a “buy” rating in a report on Thursday, June 16th.

About Tree Island Steel

Tree Island Steel Ltd. is a Canada-based manufacturer and supplier of wire products for a range of applications. The Company is engaged in making products from steel wire for a range of customers for industrial, construction, agricultural and specialty applications. The Company’s products include galvanized wire, bright wire, an array of fasteners, including packaged, collated and bulk nails, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products.

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