Algoma Steel Group Inc. (NASDAQ:ASTL) Announces Quarterly Dividend of $0.05

Algoma Steel Group Inc. (NASDAQ:ASTL) announced a quarterly dividend on Tuesday, August 13th, Zacks reports. Investors of record on Friday, August 23rd will be given a dividend of 0.05 per share on Friday, September 27th. This represents a $0.20 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, August 23rd.

Algoma Steel Group Stock Performance

Algoma Steel Group stock opened at $9.71 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.95 and a quick ratio of 1.06. Algoma Steel Group has a 1-year low of $6.34 and a 1-year high of $10.25. The firm has a market capitalization of $1.01 billion, a P/E ratio of 30.19 and a beta of 1.48. The company’s 50-day moving average is $7.94 and its 200 day moving average is $8.00.

Algoma Steel Group (NASDAQ:ASTL) last issued its earnings results on Saturday, June 22nd. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Algoma Steel Group had a net margin of 3.81% and a return on equity of 7.01%. The business had revenue of $460.35 million for the quarter, compared to the consensus estimate of $439.82 million. During the same period in the prior year, the firm earned ($0.14) EPS. Research analysts forecast that Algoma Steel Group will post -0.25 EPS for the current year.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.