Laurentian Bank of Canada to Issue Quarterly Dividend of $0.40 (TSE:LB)

Laurentian Bank of Canada (TSE:LB) announced a quarterly dividend on Tuesday, June 30th, TickerTech reports. Investors of record on Saturday, August 1st will be paid a dividend of 0.40 per share on Saturday, August 1st. This represents a $1.60 dividend on an annualized basis and a yield of ∞. The ex-dividend date of this dividend is Tuesday, June 30th.

Laurentian Bank of Canada has a 1-year low of C$26.83 and a 1-year high of C$46.99. The stock has a market cap of $1.27 billion and a PE ratio of 10.57. The firm has a fifty day simple moving average of C$29.91 and a 200-day simple moving average of C$36.75.

A number of analysts have weighed in on LB shares. CSFB reduced their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$30.00 in a research note on Friday, May 22nd. Royal Bank of Canada raised their price objective on Laurentian Bank of Canada from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Credit Suisse Group decreased their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$30.00 in a research note on Friday, May 22nd. Canaccord Genuity lifted their price target on shares of Laurentian Bank of Canada from C$23.00 to C$26.50 in a research note on Wednesday, May 20th. Finally, Scotiabank lifted their target price on Laurentian Bank of Canada from C$25.00 to C$26.00 in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of C$32.65.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.

Further Reading: Gross Domestic Product (GDP)

Dividend History for Laurentian Bank of Canada (TSE:LB)

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