Dollarama (DOL) Shares Up -2.1% After Dividend Announcement

Dollarama Inc. (TSE:DOL)’s share price shot up 2.1% on Thursday after the company announced a dividend. The company traded as high as C$151.66 and last traded at C$149.73. 1,394,341 shares traded hands during trading, an increase of 291% from the average session volume of 356,253 shares. The stock had previously closed at C$152.97.

The newly announced dividend which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.28%. Dollarama’s payout ratio is currently 10.17%.

A number of research firms have recently commented on DOL. BMO Capital Markets reissued an “outperform” rating and set a C$155.00 target price on shares of Dollarama in a research report on Monday, October 16th. CIBC boosted their target price on shares of Dollarama from C$141.00 to C$157.00 in a research report on Friday, September 8th. National Bank Financial boosted their target price on shares of Dollarama from C$160.00 to C$161.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity upped their price target on shares of Dollarama from C$150.00 to C$178.00 in a report on Thursday, November 30th. Finally, Barclays upped their price target on shares of Dollarama from C$123.00 to C$130.00 in a report on Friday, September 8th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$161.42.

In related news, insider Geoffrey Peter Robillard sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of C$133.99, for a total value of C$669,950.00.

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Dollarama Company Profile

Dollarama Inc is a Canada-based holding company. The Company operates dollar stores. It has approximately 1,030 stores in operation in Canada. Its stores have an average area of approximately 9,942 square feet, and offer a range of consumer products, general merchandise and seasonal items, including private label and nationally branded products.

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