Cascades Inc. Plans Quarterly Dividend of $0.12 (TSE:CAS)

Cascades Inc. (TSE:CAS) declared a quarterly dividend on Thursday, May 22nd, TickerTech Dividends reports. Investors of record on Thursday, June 5th will be paid a dividend of 0.12 per share on Thursday, June 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend is Thursday, May 22nd.

Cascades Stock Performance

TSE CAS opened at C$8.85 on Tuesday. The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86. Cascades has a 1 year low of C$8.30 and a 1 year high of C$13.42. The company has a market capitalization of C$895.19 million, a PE ratio of -11.94, a P/E/G ratio of 0.56 and a beta of 0.15. The company has a fifty day moving average of C$9.29 and a two-hundred day moving average of C$10.98.

Insider Buying and Selling

In related news, Senior Officer Luc Langevin sold 9,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of C$9.82, for a total value of C$88,380.00. Also, Director Nelson Gentiletti acquired 6,000 shares of Cascades stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of C$8.69 per share, with a total value of C$52,140.00. Corporate insiders own 23.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CAS. National Bankshares decreased their price objective on shares of Cascades from C$14.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. CIBC decreased their price objective on shares of Cascades from C$13.00 to C$10.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Cascades from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 22nd. TD Securities downgraded shares of Cascades from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$12.00 to C$9.50 in a research note on Friday, May 9th. Finally, Scotiabank upgraded shares of Cascades from a “hold” rating to a “strong-buy” rating and upped their price objective for the company from C$12.00 to C$15.50 in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cascades has an average rating of “Hold” and a consensus target price of C$11.40.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.