Cogeco Inc. (TSE:CGO) Announces Dividend Increase – $0.92 Per Share

Cogeco Inc. (TSE:CGO) announced a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Shareholders of record on Thursday, November 14th will be given a dividend of 0.922 per share on Thursday, November 28th. This represents a $3.69 annualized dividend and a yield of 5.88%. The ex-dividend date is Thursday, November 14th. This is a positive change from Cogeco’s previous quarterly dividend of $0.85.

Cogeco Price Performance

Cogeco stock opened at C$62.74 on Tuesday. Cogeco has a 12 month low of C$44.62 and a 12 month high of C$63.15. The stock’s 50 day moving average is C$58.62 and its 200-day moving average is C$54.25. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 151.56. The company has a market capitalization of C$496.27 million, a price-to-earnings ratio of 7.48, a PEG ratio of -0.28 and a beta of 0.34.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. CIBC reduced their price target on Cogeco from C$69.00 to C$67.00 in a research report on Monday, November 4th. TD Securities increased their price target on Cogeco from C$99.00 to C$104.00 in a research report on Monday, November 4th. Finally, Canaccord Genuity Group raised Cogeco from a “hold” rating to a “buy” rating and raised their target price for the company from C$65.00 to C$77.00 in a report on Monday, November 4th.

About Cogeco

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States.