Pet Valu Holdings Ltd. (TSE:PET) to Issue Dividend Increase – $0.58 Per Share

Pet Valu Holdings Ltd. (TSE:PET) announced a quarterly dividend on Tuesday, November 5th, RTT News reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.58 per share on Friday, January 3rd. This represents a $2.32 dividend on an annualized basis and a yield of 8.87%. This is a positive change from Pet Valu’s previous quarterly dividend of $0.11.

Pet Valu Stock Performance

TSE PET traded up C$0.69 during trading on Tuesday, reaching C$26.16. 11,801 shares of the company’s stock were exchanged, compared to its average volume of 70,295. The firm has a market cap of C$1.87 billion, a PE ratio of 22.34 and a beta of 0.81. The stock has a 50 day simple moving average of C$25.50. Pet Valu has a 1 year low of C$23.58 and a 1 year high of C$32.90.

Pet Valu (TSE:PET) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.03. The company had revenue of C$265.23 million during the quarter, compared to the consensus estimate of C$266.86 million. Pet Valu had a return on equity of 128.24% and a net margin of 7.64%. As a group, research analysts anticipate that Pet Valu will post 1.6820546 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PET. Cibc World Mkts raised Pet Valu to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays raised Pet Valu to a “strong-buy” rating in a report on Wednesday, August 7th.

About Pet Valu

Pet Valu Holdings Ltd. engages in the retail and wholesale of pet foods and pet-related supplies for dogs, cats, fish, birds, reptiles, and small animals in Canada. It offers food and treats for dogs and cats, cat litter, dog and cat toys, collars and leashes, health and wellness solutions, waste management solutions, pet cages and carriers, flea and tick products, and pet apparel and other related accessories.