Cogeco Inc. (TSE:CGO) to Issue Dividend Increase – $0.92 Per Share

Cogeco Inc. (TSE:CGO) announced a quarterly dividend on Monday, November 4th, Zacks reports. Shareholders of record on Thursday, November 14th will be given a dividend of 0.922 per share on Thursday, November 28th. This represents a $3.69 annualized dividend and a yield of 6.02%. The ex-dividend date is Thursday, November 14th. This is a boost from Cogeco’s previous quarterly dividend of $0.85.

Cogeco Stock Down 1.1 %

Shares of CGO traded down C$0.66 on Wednesday, hitting C$61.30. The company’s stock had a trading volume of 5,161 shares, compared to its average volume of 20,072. The firm’s fifty day moving average price is C$58.16 and its 200-day moving average price is C$54.08. Cogeco has a fifty-two week low of C$44.62 and a fifty-two week high of C$62.88. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 151.56. The firm has a market capitalization of C$484.88 million, a price-to-earnings ratio of 7.33, a P/E/G ratio of -0.28 and a beta of 0.34.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CGO. TD Securities increased their target price on shares of Cogeco from C$99.00 to C$104.00 in a report on Monday. CIBC reduced their price objective on shares of Cogeco from C$69.00 to C$67.00 in a research note on Monday. Finally, Canaccord Genuity Group upgraded Cogeco from a “hold” rating to a “buy” rating and upped their target price for the stock from C$65.00 to C$77.00 in a report on Monday.

About Cogeco

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States.