K-Bro Linen Inc (TSE:KBL) to Issue $0.10 Monthly Dividend

K-Bro Linen Inc (TSE:KBL) declared a monthly dividend on Monday, June 15th, Zacks reports. Investors of record on Tuesday, June 30th will be given a dividend of 0.10 per share on Wednesday, July 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Monday, June 29th.

KBL stock opened at C$26.69 on Friday. The firm has a fifty day moving average price of C$28.37 and a 200 day moving average price of C$35.45. K-Bro Linen has a fifty-two week low of C$23.73 and a fifty-two week high of C$46.44. The company has a debt-to-equity ratio of 52.30, a quick ratio of 0.87 and a current ratio of 1.70. The firm has a market cap of $288.01 million and a PE ratio of 40.50.

K-Bro Linen (TSE:KBL) last posted its earnings results on Thursday, May 7th. The company reported C($0.32) earnings per share for the quarter. The company had revenue of C$57.28 million for the quarter, compared to analysts’ expectations of C$55.95 million. On average, equities analysts predict that K-Bro Linen will post 0.84 EPS for the current year.

Several research analysts have commented on the stock. National Bank Financial dropped their price objective on shares of K-Bro Linen from C$47.00 to C$30.50 and set an “outperform” rating for the company in a research note on Monday, March 23rd. Echelon Wealth Partners reaffirmed a “hold” rating on shares of K-Bro Linen in a research note on Friday, March 20th. Raymond James raised shares of K-Bro Linen from an “outperform” rating to a “strong-buy” rating and set a C$37.00 price objective for the company in a research note on Thursday, May 21st. Finally, Eight Capital lowered shares of K-Bro Linen from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from C$50.00 to C$28.00 in a research note on Monday, March 23rd.

About K-Bro Linen

K-Bro Linen Inc, together with its subsidiaries, engages in the processing, management, and distribution of general linen and operating room linen to healthcare institutions, hotels, and other commercial accounts in Canada. The company also offers other services, including bulk dock-to-dock, exchange cart preparation, delivery of carts, surgical linen, distribution and control of employee uniforms, personal clothing, customer reporting, customer service visiting, and textile procurement services.

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Dividend History for K-Bro Linen (TSE:KBL)

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