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

Algoma Steel Group Inc. (NASDAQ:ASTLGet Rating) declared a quarterly dividend on Thursday, June 16th, Wall Street Journal reports. Shareholders of record on Monday, June 27th will be paid a dividend of 0.05 per share on Friday, July 15th. This represents a $0.20 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, June 24th.

Shares of NASDAQ ASTL opened at $9.19 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.15 and a current ratio of 1.75. Algoma Steel Group has a 52-week low of $7.75 and a 52-week high of $13.65. The firm has a 50 day moving average price of $9.53 and a two-hundred day moving average price of $9.81.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new stake in shares of Algoma Steel Group during the fourth quarter worth $37,000. Penserra Capital Management LLC acquired a new stake in shares of Algoma Steel Group during the fourth quarter worth $76,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Algoma Steel Group during the fourth quarter worth $108,000. Citadel Advisors LLC acquired a new stake in shares of Algoma Steel Group during the fourth quarter worth $169,000. Finally, Bank of America Corp DE increased its position in shares of Algoma Steel Group by 920.8% during the first quarter. Bank of America Corp DE now owns 17,691 shares of the company’s stock worth $199,000 after buying an additional 15,958 shares during the period.

About Algoma Steel Group (Get Rating)

Algoma Steel Group Inc produces and sells steel products primarily in North America. It provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled, floor plate, and cut-to-length products for the automotive industry; 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.

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