Western Forest Products Inc. (TSE:WEF) to Issue $0.01 Quarterly Dividend

Western Forest Products Inc. (TSE:WEFGet Rating) declared a quarterly dividend on Thursday, November 24th, TickerTech reports. Stockholders of record on Friday, December 16th will be paid a dividend of 0.0125 per share on Friday, December 16th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Thursday, November 24th.

Western Forest Products Trading Up 1.8 %

Shares of TSE:WEF opened at C$1.15 on Wednesday. Western Forest Products has a 12-month low of C$1.03 and a 12-month high of C$2.30. The business’s fifty day simple moving average is C$1.27 and its 200-day simple moving average is C$1.49. The company has a market capitalization of C$364.25 million and a PE ratio of 3.38. The company has a current ratio of 2.56, a quick ratio of 0.73 and a debt-to-equity ratio of 3.22.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. TD Securities downgraded Western Forest Products from a “buy” rating to a “hold” rating and cut their price target for the company from C$1.80 to C$1.40 in a report on Monday, November 7th. Scotiabank cut their price target on Western Forest Products from C$2.50 to C$2.25 in a report on Friday, November 4th. Royal Bank of Canada cut their price target on Western Forest Products from C$1.75 to C$1.50 and set a “sector perform” rating on the stock in a report on Friday, November 4th. Finally, CIBC dropped their target price on Western Forest Products from C$1.75 to C$1.50 and set a “neutral” rating on the stock in a research note on Monday, November 7th.

Insider Buying and Selling

In other Western Forest Products news, Director John Patrick Williamson bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were purchased at an average cost of C$1.11 per share, for a total transaction of C$111,354.00. Following the purchase, the director now directly owns 134,000 shares in the company, valued at C$149,214.36.

Western Forest Products Company Profile

(Get Rating)

Western Forest Products Inc engages in the timber harvesting, sawmilling logs into specialty lumber, value-added lumber remanufacturing, and lumber purchasing and wholesaling businesses. Its products have applications in outdoor living; exterior appearance; interior living; and structural applications.

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Dividend History for Western Forest Products (TSE:WEF)

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