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

kopsource ·  02/22/2023 22:02

Western Forest Products Inc. (TSE:WEF – Get Rating) announced a quarterly dividend on Thursday, February 16th, Zacks reports. Shareholders of record on Friday, February 24th will be given a dividend of 0.013 per share on Friday, March 17th. This represents a $0.05 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Thursday, February 23rd. This is an increase from Western Forest Products's previous quarterly dividend of $0.01.

Western Forest Products Stock Down 2.4 %

WEF opened at C$1.23 on Wednesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.56 and a quick ratio of 0.73. The stock has a market capitalization of C$389.59 million, a price-to-earnings ratio of 3.62, a price-to-earnings-growth ratio of 0.32 and a beta of 1.95. The business has a 50-day moving average of C$1.25 and a two-hundred day moving average of C$1.31. Western Forest Products has a 12 month low of C$1.03 and a 12 month high of C$2.23.

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Wall Street Analysts Forecast Growth

Several research firms have commented on WEF. Scotiabank lowered their price target on Western Forest Products from C$2.00 to C$1.75 in a report on Monday, January 9th. CIBC lowered their price target on Western Forest Products from C$1.50 to C$1.25 in a report on Tuesday, January 10th. TD Securities boosted their target price on Western Forest Products from C$1.25 to C$1.35 and gave the stock a "hold" rating in a report on Tuesday. Finally, Royal Bank of Canada decreased their target price on Western Forest Products from C$1.75 to C$1.50 and set a "sector perform" rating for the company in a report on Friday, November 4th.

About Western Forest Products

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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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