Pinnacle Renewable Holdings Inc (TSE:PL) to Issue Quarterly Dividend of $0.15
Pinnacle Renewable Holdings Inc (TSE:PL) announced a quarterly dividend on Monday, August 12th, Zacks reports. Investors of record on Friday, August 23rd will be paid a dividend of 0.15 per share on Thursday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend is Thursday, August 22nd.
PL traded down C$0.25 during trading on Wednesday, reaching C$10.12. 11,970 shares of the company were exchanged, compared to its average volume of 44,130. The company has a 50-day simple moving average of C$9.86. The stock has a market cap of $338.00 million and a P/E ratio of 42.56. The company has a debt-to-equity ratio of 171.27, a quick ratio of 0.56 and a current ratio of 1.11. Pinnacle Renewable has a 12-month low of C$8.53 and a 12-month high of C$17.00.
A number of analysts recently issued reports on the company. CIBC increased their price objective on Pinnacle Renewable from C$14.00 to C$14.50 in a report on Tuesday, April 23rd. Royal Bank of Canada dropped their price objective on Pinnacle Renewable from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a report on Friday, May 10th.
Pinnacle Renewable Energy Inc, together with its subsidiaries, manufactures, distributes, and sells industrial wood pellets in North America, Asia, and Europe. The company produces renewable fuel for electricity generation in the form of industrial wood pellets, which are used by utilities and large-scale power generators to produce renewable and baseload power.
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