Parkland Co. (TSE:PKI) Plans Quarterly Dividend of $0.36

Parkland Co. (TSE:PKI) declared a quarterly dividend on Wednesday, June 11th, RTT News reports. Investors of record on Friday, June 20th will be paid a dividend of 0.36 per share on Tuesday, July 15th. This represents a $1.44 annualized dividend and a dividend yield of 3.77%. This is a 2.9% increase from Parkland’s previous quarterly dividend of $0.35.

Parkland Trading Down 0.9%

Shares of PKI opened at C$38.16 on Thursday. The firm has a market capitalization of C$6.65 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87. The stock’s fifty day simple moving average is C$36.37 and its 200 day simple moving average is C$35.49. Parkland has a twelve month low of C$30.09 and a twelve month high of C$40.29.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PKI shares. TD Securities cut Parkland from a “buy” rating to a “sell” rating and decreased their target price for the stock from C$50.00 to C$44.00 in a report on Tuesday, May 6th. BMO Capital Markets downgraded shares of Parkland from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 2nd. Scotiabank cut their target price on shares of Parkland from C$52.00 to C$44.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group lowered their price target on Parkland from C$45.00 to C$42.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Raymond James decreased their target price on Parkland from C$47.00 to C$45.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Parkland presently has an average rating of “Moderate Buy” and an average target price of C$44.54.

Insider Transactions at Parkland

In related news, Senior Officer Darren Robert Smart sold 5,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of C$36.76, for a total value of C$183,800.00. Corporate insiders own 20.51% of the company’s stock.

About Parkland

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.