Premium Brands Holdings Corp (TSE:PBH)’s share price was up 6.6% on Wednesday after the company announced a dividend. The company traded as high as C$95.91 and last traded at C$95.15. Approximately 376,935 shares changed hands during mid-day trading, an increase of 342% from the average daily volume of 85,310 shares. The stock had previously closed at C$101.84.

The newly announced dividend which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Thursday, December 28th. Premium Brands Holdings Corp’s dividend payout ratio is currently 57.35%.

Several research analysts have recently weighed in on PBH shares. BMO Capital Markets restated a “market perform” rating and issued a C$106.00 price target on shares of Premium Brands Holdings Corp in a research note on Tuesday, August 15th. Royal Bank Of Canada decreased their price target on Premium Brands Holdings Corp from C$109.00 to C$11.00 and set an “outperform” rating for the company in a research note on Tuesday, August 15th. National Bank Financial boosted their price target on Premium Brands Holdings Corp from C$105.00 to C$110.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 15th. Finally, Scotiabank boosted their price target on Premium Brands Holdings Corp from C$88.00 to C$93.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Premium Brands Holdings Corp has a consensus rating of “Hold” and a consensus target price of C$82.00.

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About Premium Brands Holdings Corp

Premium Brands Holdings Corp is a Canada-based company that, through its subsidiaries, owns a range of specialty food manufacturing and food distribution businesses. The Company’s segments include Specialty Foods and Premium Food Distribution. Its family of brands and businesses include Conte Foods, Larosa Foods, McSweeney’s, Direct Plus, OvenPride and Island City Baking.

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