West Fraser Timber Co. Ltd. (TSE:WFG) expects dividend increase of $0.38 per share


West Fraser Timber Co. Ltd. (EAST: WFGGet a rating) declared a quarterly dividend on Wednesday, June 8, Zacks reports. Investors of record on Wednesday, June 22 will receive a dividend of 0.38 per share on Friday, July 8. This represents an annualized dividend of $1.52 and a yield of 1.35%. The ex-dividend date is Tuesday, June 21. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.20.

WFG Stock opened at C$112.48 on Friday. West Fraser Timber has a 1-year low of C$82.09 and a 1-year high of C$130.13. The company has a market capitalization of C$10.10 billion and a P/E ratio of 2.94. The company’s 50-day moving average is C$109.32 and its 200-day moving average is C$114.41. The company has a current ratio of 3.55, a quick ratio of 2.32 and a debt ratio of 6.14.

West Fraser Woods (EAST: WFGGet a rating) last released its quarterly earnings data on Thursday, April 28. The company reported earnings per share of C$12.98 for the quarter, beating the consensus estimate of C$12.63 by C$0.35. The company had revenue of C$3.94 billion in the quarter. Sell-side analysts expect West Fraser Timber to post EPS of 15.0900005 for the current year.

Several equity research analysts have weighed in on the company recently. Scotiabank raised its price target on West Fraser Timber from C$147.00 to C$157.00 in a Thursday, April 21 research note. Raymond James set a price target of C$190.00 on West Fraser Timber and gave the company a “Strong Buy” rating in a Friday, April 29 research note. Finally, CIBC raised its target price on West Fraser Timber from C$126.00 to C$146.00 and gave the stock an “outperform” rating in a Tuesday, May 3 report. Three equity research analysts gave the stock a buy rating and two gave the company a strong buy rating. According to data from MarketBeat.com, the company currently has a consensus buy rating and an average price target of C$158.60.

Company Profile West Fraser Timber (Get a rating)

West Fraser Timber Co Ltd., a diversified wood products company, is engaged in the manufacture, sale, marketing and distribution of lumber, engineered wood products, pulp, newsprint, wood chips and other residues and renewable energy. It offers spruce-pine-fir and southern yellow pine lumber, treated wood products, medium-density fiberboard and plywood, oriented strand board and laminated veneer wood products.

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