Westshore Terminals Investment (TSE:WTE) Stock Price Up 9.1% After Dividend Announcement

Shares of Westshore Terminals Investment Co. (TSE:WTE – Get Rating) shot up 9.1% on Monday after the company announced a dividend. The stock traded as high as C$25.97 and last traded at C$25.78. 109,482 shares changed hands during trading, an increase of 8% from the average session volume of 101,543 shares. The stock had previously closed at C$23.64.

The newly announced dividend which will be paid on Saturday, April 15th. Investors of record on Friday, March 31st will be given a $0.35 dividend. This is a positive change from Westshore Terminals Investment’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend is Thursday, March 30th. Westshore Terminals Investment’s dividend payout ratio (DPR) is 85.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WTE shares. TD Securities boosted their price target on Westshore Terminals Investment from C$25.00 to C$27.00 and gave the company a “hold” rating in a research report on Monday. Scotiabank boosted their target price on Westshore Terminals Investment from C$23.50 to C$25.50 in a report on Monday. Finally, CIBC raised their price target on shares of Westshore Terminals Investment from C$27.00 to C$28.00 and gave the company a “neutral” rating in a report on Tuesday.

Westshore Terminals Investment Stock Up 0.9 %

The stock has a market capitalization of C$1.65 billion, a price-to-earnings ratio of 18.62 and a beta of 0.97. The firm has a 50-day moving average of C$24.66 and a 200 day moving average of C$25.10. The company has a current ratio of 2.33, a quick ratio of 2.07 and a debt-to-equity ratio of 38.44.

About Westshore Terminals Investment

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Westshore Terminals Investment Corporation operates a coal storage and loading terminal at Roberts Bank, British Columbia. The company has contracts to ship coal from mines in British Columbia, Alberta, and the Northwestern United States. Westshore Terminals Investment Corporation was founded in 1970 and is headquartered in Vancouver, Canada.