Toromont Industries Ltd (TIH) to Issue Quarterly Dividend of $0.27 on January 3rd

Toromont Industries Ltd (TSE:TIH) announced a quarterly dividend on Monday, November 4th, Zacks reports. Investors of record on Monday, December 9th will be paid a dividend of 0.27 per share on Friday, January 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, December 6th.

Shares of TSE TIH traded down C$0.07 during trading on Wednesday, hitting C$66.76. The company had a trading volume of 30,533 shares, compared to its average volume of 126,847. Toromont Industries has a 52 week low of C$51.02 and a 52 week high of C$71.15. The business’s 50-day moving average is C$68.03 and its 200 day moving average is C$63.95. The company has a market cap of $5.56 billion and a P/E ratio of 19.55. The company has a debt-to-equity ratio of 46.75, a quick ratio of 0.66 and a current ratio of 1.63.

A number of equities analysts recently issued reports on TIH shares. Raymond James restated an “outperform” rating and issued a C$75.00 target price on shares of Toromont Industries in a report on Wednesday, November 6th. Royal Bank of Canada upped their target price on Toromont Industries from C$64.00 to C$70.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. TD Securities upped their target price on Toromont Industries from C$74.00 to C$76.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, National Bank Financial increased their price target on Toromont Industries from C$71.00 to C$79.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Toromont Industries currently has an average rating of “Buy” and an average target price of C$72.00.

In other news, Director David Allan Malinauskas sold 5,200 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of C$70.10, for a total value of C$364,520.00. Following the completion of the sale, the director now owns 2,070 shares in the company, valued at C$145,107. Also, Senior Officer Paul Randolph Jewer sold 600 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of C$70.01, for a total value of C$42,006.00. Following the completion of the sale, the insider now owns 6,900 shares of the company’s stock, valued at approximately C$483,069. Insiders sold a total of 6,443 shares of company stock valued at $450,277 in the last ninety days.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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Dividend History for Toromont Industries (TSE:TIH)

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