Power Co. of Canada (POW) to Issue Quarterly Dividend of $0.36 on June 30th

Power Co. of Canada (TSE:POW) announced a quarterly dividend on Friday, May 12th. Shareholders of record on Friday, June 9th will be given a dividend of 0.3585 per share by the financial services provider on Friday, June 30th. This represents a $1.43 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Wednesday, June 7th. This is a positive change from Power Co. of Canada’s previous quarterly dividend of $0.34.

Shares of Power Co. of Canada (POW) opened at 28.90 on Tuesday. The firm has a 50-day moving average price of $30.26 and a 200-day moving average price of $30.71. Power Co. of Canada has a 12-month low of $26.63 and a 12-month high of $32.49. The firm has a market cap of $13.40 billion and a P/E ratio of 10.42.

Dividend History for Power Co. of Canada (TSE:POW)

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In other Power Co. of Canada news, insider Arnaud Vial acquired 3,473 shares of Power Co. of Canada stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average cost of C$28.71 per share, with a total value of C$99,709.83.

Several equities research analysts have recently commented on POW shares. TD Securities downgraded Power Co. of Canada from a “buy” rating to a “hold” rating and reduced their target price for the company from C$37.00 to C$33.00 in a report on Thursday, May 11th. Desjardins upped their target price on Power Co. of Canada from C$32.00 to C$33.00 in a report on Thursday, March 2nd. Barclays PLC upped their target price on Power Co. of Canada from C$29.00 to C$32.00 in a report on Monday, March 20th. CIBC upped their target price on Power Co. of Canada from C$33.00 to C$34.00 in a report on Tuesday, February 14th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a C$35.00 target price on shares of Power Co. of Canada in a report on Thursday, April 27th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of C$33.57.

About Power Co. of Canada

Power Corporation of Canada is a diversified management and holding company. The Company has interest in the financial services, renewable energy, communications and other business sectors. Its principal asset is the controlling interest in Power Financial Corporation (Power Financial). Its segments are Great-West Lifeco Inc (Lifeco), IGM Financial Inc (IGM) and Pargesa Holding SA (Pargesa).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TSX:POW”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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