Cascades Inc. (TSE:CAS) Announces Quarterly Dividend of $0.12

Cascades Inc. (TSE:CAS) announced a quarterly dividend on Thursday, May 22nd, TickerTech Dividends reports. Stockholders of record on Thursday, June 5th will be given a dividend of 0.12 per share on Thursday, June 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend is Thursday, May 22nd.

Cascades Stock Up 1.8%

Cascades stock opened at C$8.85 on Tuesday. The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86. The stock has a market capitalization of C$895.19 million, a price-to-earnings ratio of -11.94, a PEG ratio of 0.56 and a beta of 0.15. Cascades has a 1-year low of C$8.30 and a 1-year high of C$13.42. The business has a fifty day moving average price of C$9.29 and a 200-day moving average price of C$10.98.

Insider Buying and Selling at Cascades

In related news, Senior Officer Luc Langevin sold 9,000 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of C$9.82, for a total transaction of C$88,380.00. Also, Senior Officer Allan Hogg sold 29,496 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of C$8.75, for a total transaction of C$258,090.00. 23.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAS. National Bankshares reduced their price objective on Cascades from C$14.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Scotiabank upgraded Cascades from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from C$12.00 to C$15.50 in a research note on Monday, January 27th. CIBC reduced their price objective on Cascades from C$13.00 to C$10.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada reduced their price objective on Cascades from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 22nd. Finally, TD Securities lowered Cascades from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$12.00 to C$9.50 in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cascades presently has a consensus rating of “Hold” and an average target price of C$11.40.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.