ATCO Ltd (TSE: ACO.X) has announced a dividend increase for its Class I and Class II shares.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
ATCO’s board of directors has declared a first-quarter dividend of C$0.4617 per Class I Non-Voting share and per Class II Voting Share, a 3% increase from the C$0.4483 paid in each of the previous four quarters.
This common stock dividend is payable on March 31, 2022, to shareholders of record on March 3, 2022. This is the 29th consecutive year that ATCO has increased its dividend.
With approximately 6,200 employees and assets of C$22 billion, ATCO is a diversified global company.
It invests in essential Structures & Logistics services, Utilities, Energy Infrastructure, Retail Energy, Transportation, and Commercial Real Estate.
Wall Street’s Take
Two months ago, UBS analyst Ross Fowler upgraded ACO.X to Buy from Hold and raised its price target to C$49 (from C$47). This implies 19% upside potential.
Fowler mentioned the company’s cyclical leverage in 2022 and 2023 as reason for the upgrade.
The rest of the Street is bullish on SSRM with a Strong Buy consensus rating based on five Buys and one Hold. The average ATCO Ltd price target of C$49.08 implies 19.5% upside potential to current levels.
Download the TipRanks mobile app now
Related News:
Tamarack Valley Energy Approves 2022 Capital Budget
Cargojet Renews Air Cargo Services Agreement
