Valener Inc (VNR) Increases Dividend to $0.29 Per Share
Valener Inc (TSE:VNR) announced a quarterly dividend on Thursday, August 10th, Zacks reports. Stockholders of record on Saturday, September 30th will be given a dividend of 0.29 per share on Monday, October 16th. This represents a $1.16 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Valener’s previous quarterly dividend of $0.25.
Valener (TSE:VNR) traded down 1.44% during midday trading on Friday, hitting $21.94. 86,519 shares of the stock traded hands. The stock has a market capitalization of $852.96 million and a P/E ratio of 15.60. The stock’s 50-day moving average price is $22.43 and its 200-day moving average price is $22.16. Valener has a 52 week low of $18.76 and a 52 week high of $23.23.
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Separately, TD Securities increased their price target on shares of Valener from C$22.00 to C$23.00 and gave the stock a “hold” rating in a research note on Thursday, August 10th.
In other Valener news, Director Pierre Monahan purchased 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of C$22.77 per share, for a total transaction of C$34,155.00.
Valener Company Profile
Valener Inc is a Canada-based energy company. The Company holds interests in Gaz Metro Limited Partnership (Gaz Metro), whose core operations are natural gas distribution in Quebec and Vermont, as well as electricity distribution in Vermont. The Company also owns indirect interests in wind farms through its subsidiaries, Valener Eole Inc and Valener Eole 4 Inc, which have approximately 154 turbines and an installed capacity of 340 megawatts.
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