North American Construction Group Ltd. (NYSE:NOA) Increases Dividend to $0.09 Per Share

North American Construction Group Ltd. (NYSE:NOA) (TSE:NOA) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Wednesday, November 27th will be paid a dividend of 0.089 per share by the oil and gas company on Friday, January 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Wednesday, November 27th. This is a positive change from North American Construction Group’s previous quarterly dividend of $0.07.

North American Construction Group has increased its dividend by an average of 35.7% annually over the last three years. North American Construction Group has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Analysts expect North American Construction Group to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 9.7%.

North American Construction Group Stock Performance

Shares of NYSE NOA traded up $0.52 during midday trading on Friday, reaching $20.05. 20,457 shares of the stock were exchanged, compared to its average volume of 64,804. North American Construction Group has a twelve month low of $16.46 and a twelve month high of $25.92. The company has a quick ratio of 0.80, a current ratio of 1.03 and a debt-to-equity ratio of 1.82. The firm has a 50-day simple moving average of $18.41 and a two-hundred day simple moving average of $19.38. The firm has a market cap of $537.94 million, a price-to-earnings ratio of 13.54 and a beta of 1.49.

North American Construction Group (NYSE:NOA) (TSE:NOA) last released its earnings results on Wednesday, July 31st. The oil and gas company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. North American Construction Group had a return on equity of 26.39% and a net margin of 4.79%. The business had revenue of $201.95 million for the quarter, compared to the consensus estimate of $230.03 million. As a group, analysts anticipate that North American Construction Group will post 2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of North American Construction Group from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd.

About North American Construction Group

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment – Canada, Heavy Equipment – Australia, and Other segments.