Algoma Steel Group Inc. (TSE:ASTL) Declares $0.05 Quarterly Dividend

Algoma Steel Group Inc. (TSE:ASTL) declared a quarterly dividend on Tuesday, July 2nd, TickerTech reports. Shareholders of record on Friday, July 19th will be given a dividend of 0.05 per share on Friday, July 19th. This represents a $0.20 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Tuesday, July 2nd.

Algoma Steel Group Stock Down 0.5 %

ASTL stock opened at C$9.49 on Monday. The company has a market capitalization of C$987.34 million, a P/E ratio of 14.83 and a beta of 1.54. Algoma Steel Group has a 12 month low of C$8.71 and a 12 month high of C$13.54. The firm’s fifty day simple moving average is C$10.41 and its 200-day simple moving average is C$11.16. The company has a debt-to-equity ratio of 10.83, a current ratio of 2.88 and a quick ratio of 1.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ASTL shares. Stifel Nicolaus boosted their price objective on Algoma Steel Group from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Monday, June 24th. Cormark decreased their price target on Algoma Steel Group from C$17.00 to C$14.50 in a report on Monday, June 24th. Finally, BMO Capital Markets dropped their price objective on shares of Algoma Steel Group from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.