Western Forest Products Inc (TSE:WEF) announced a quarterly dividend on Wednesday, February 12th, Zacks reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.023 per share on Friday, March 13th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date is Thursday, February 27th. This is a boost from Western Forest Products’s previous quarterly dividend of $0.02.
WEF stock opened at C$1.35 on Friday. Western Forest Products has a 52 week low of C$1.05 and a 52 week high of C$2.02. The company has a market capitalization of $427.73 million and a price-to-earnings ratio of -42.19. The firm’s 50-day moving average is C$1.19 and its two-hundred day moving average is C$1.23. The company has a current ratio of 3.85, a quick ratio of 0.86 and a debt-to-equity ratio of 25.88.
A number of analysts have commented on WEF shares. Scotiabank dropped their price target on shares of Western Forest Products from C$1.75 to C$1.50 in a research report on Wednesday, December 18th. Royal Bank of Canada downgraded shares of Western Forest Products from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from C$1.00 to C$1.25 in a research report on Thursday. Raymond James restated an “outperform” rating and set a C$1.50 price target on shares of Western Forest Products in a research report on Tuesday. Finally, TD Securities boosted their price target on shares of Western Forest Products from C$1.25 to C$1.50 and gave the stock a “hold” rating in a research report on Thursday.
About Western Forest Products
Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers various products for outdoor living space, such as structures, decking, landscaping, and fencing; home components, including appearance, Japanese housing, and framing, as well as siding, paneling, trim, and soffits; and furniture, moldings, and decorative purpose, as well as doors, windows, and stair components.
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