South Bow Co. (NYSE:SOBO) Announces Quarterly Dividend of $0.50

South Bow Co. (NYSE:SOBO) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.50 per share on Friday, January 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.46%. The ex-dividend date is Tuesday, December 31st.

South Bow has a dividend payout ratio of 114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect South Bow to earn $1.69 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 118.3%.

South Bow Price Performance

South Bow stock traded up $0.02 on Friday, hitting $23.65. The company’s stock had a trading volume of 824,074 shares, compared to its average volume of 931,545. South Bow has a one year low of $21.12 and a one year high of $26.11.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SOBO. Morgan Stanley initiated coverage on shares of South Bow in a research note on Friday, October 25th. They issued an “underweight” rating on the stock. Cibc World Mkts upgraded South Bow to a “hold” rating in a research note on Friday, October 11th. Jefferies Financial Group initiated coverage on South Bow in a research report on Tuesday, October 8th. They set a “hold” rating for the company. Finally, US Capital Advisors upgraded South Bow to a “strong-buy” rating in a research report on Monday, October 28th.

About South Bow

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.