Algoma Central (TSE:ALC) Hits New 1-Year High – Should You Buy?

Shares of Algoma Central Co. (TSE:ALC) hit a new 52-week high during trading on Monday . The stock traded as high as C$24.10 and last traded at C$24.06, with a volume of 14863 shares changing hands. The stock had previously closed at C$23.84.

Algoma Central Stock Up 0.9%

The company has a current ratio of 0.76, a quick ratio of 2.06 and a debt-to-equity ratio of 50.70. The stock’s 50-day moving average price is C$20.06 and its 200-day moving average price is C$18.55. The stock has a market cap of C$976.07 million, a price-to-earnings ratio of 9.66 and a beta of 0.46.

Algoma Central Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, February 13th. This is an increase from Algoma Central’s previous quarterly dividend of $0.20. Algoma Central’s dividend payout ratio (DPR) is 31.73%.

About Algoma Central

Algoma Central Corp owns and operates the fleet of dry and liquid bulk carriers operating on the Great Lakes, St. Lawrence Waterway. The company’s Canadian flag fleet consists of self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. The company operates its business through six segments that are Domestic Dry-Bulk, Product Tankers, Ocean SelfUnloaders, Corporate, Investment Properties, and Global Short Sea Shipping. The company earns revenues from marine operations through contracts of affreightment, time charters, and pool revenue.