Algoma Steel Group Inc. (ASTL) to Issue Quarterly Dividend of $0.05 on September 27th

Algoma Steel Group Inc. (TSE:ASTL) declared a quarterly dividend on Friday, August 23rd, TickerTech reports. Investors of record on Friday, September 27th 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 1.53%. The ex-dividend date is Friday, August 23rd.

Algoma Steel Group Stock Up 1.1 %

Shares of ASTL traded up C$0.14 during midday trading on Wednesday, hitting C$13.08. The company had a trading volume of 23,900 shares, compared to its average volume of 54,172. Algoma Steel Group has a 1 year low of C$8.71 and a 1 year high of C$13.95. The firm has a market capitalization of C$1.36 billion, a P/E ratio of -59.77 and a beta of 1.48. The company has a debt-to-equity ratio of 40.09, a quick ratio of 1.51 and a current ratio of 4.19. The company’s 50-day simple moving average is C$11.14 and its 200-day simple moving average is C$10.96.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ASTL shares. Cormark raised their target price on Algoma Steel Group from C$14.50 to C$18.75 in a research report on Monday, July 22nd. BMO Capital Markets raised their price objective on shares of Algoma Steel Group from C$13.00 to C$15.00 in a report on Thursday, August 15th. Finally, Stifel Nicolaus upped their target price on shares of Algoma Steel Group from C$16.00 to C$19.00 in a report on Thursday, August 15th.

Algoma Steel Group Company Profile

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.