Pollard Banknote (TSE:PBL) Shares Up 9.6% Following Dividend Announcement

Pollard Banknote Limited (TSE:PBL – Get Rating) rose 9.6% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as C$20.17 and last traded at C$20.00. Approximately 129,107 shares traded hands during trading, an increase of 988% from the average daily volume of 11,870 shares. The stock had previously closed at C$18.25.

The newly announced dividend which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $0.16 dividend on an annualized basis and a yield of 0.75%. Pollard Banknote’s payout ratio is 32.65%.

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Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James lowered their target price on shares of Pollard Banknote from C$29.00 to C$24.00 and set an “outperform” rating on the stock in a report on Wednesday, January 18th. Canaccord Genuity Group upgraded shares of Pollard Banknote from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$18.50 to C$24.00 in a report on Wednesday. Finally, Cormark set a C$25.00 target price on shares of Pollard Banknote in a report on Monday, November 14th.

Pollard Banknote Stock Performance

The company has a debt-to-equity ratio of 63.61, a current ratio of 2.05 and a quick ratio of 1.01. The stock’s 50-day simple moving average is C$18.69 and its 200 day simple moving average is C$18.50. The stock has a market capitalization of C$574.20 million, a P/E ratio of 43.53 and a beta of 0.64.

About Pollard Banknote

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Pollard Banknote Limited, together with its subsidiaries, manufactures and sells a range of gaming products and services for the lottery and charitable gaming industries worldwide. The company operates through two segments, Lotteries and Charitable Gaming, and eGaming Systems. It designs, manufactures, and distributes instant tickets, as well as offers related services.

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