Maple Leaf Foods Inc. (TSE:MFI) Increases Dividend to $0.24 Per Share

Maple Leaf Foods Inc. (TSE:MFI) announced a quarterly dividend on Friday, March 7th, TickerTech Dividends reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.24 per share on Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Friday, March 7th. This is a boost from Maple Leaf Foods’s previous quarterly dividend of $0.22.

Maple Leaf Foods Stock Performance

MFI stock traded up C$0.43 on Wednesday, reaching C$25.05. The company’s stock had a trading volume of 35,467 shares, compared to its average volume of 240,709. Maple Leaf Foods has a 52 week low of C$19.61 and a 52 week high of C$26.10. The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54. The company has a market capitalization of C$3.14 billion, a P/E ratio of 92.45, a price-to-earnings-growth ratio of 18.07 and a beta of 0.47. The firm has a fifty day moving average of C$21.62 and a two-hundred day moving average of C$22.00.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MFI. CIBC lifted their price objective on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group boosted their target price on Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock a “buy” rating in a report on Monday, January 13th. National Bankshares lifted their price target on Maple Leaf Foods from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Royal Bank of Canada upped their price objective on Maple Leaf Foods from C$29.00 to C$30.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, TD Securities dropped their price target on shares of Maple Leaf Foods from C$35.00 to C$34.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$31.08.

About Maple Leaf Foods

Maple Leaf Foods Inc is a consumer-packaged meats company. It produces prepared meats and meals, fresh pork, and poultry and turkey products. The company also has agribusiness operations. These operations supply livestock to the meat products business operations. Its main markets are Canada, the United States, Japan, and China.