Polaris Renewable Energy Inc. has announced a quarterly dividend of C$0.15 per share, scheduled for payment on November 21, 2023. Shareholders on record as of that date will receive the dividend, marking a significant return for investors. This dividend reflects an annualized rate and a yield of 4.7%, highlighting the company’s commitment to providing value to its shareholders.
The ex-dividend date is set for November 10, 2023, meaning that investors must own the stock before this date to qualify for the upcoming payment. This announcement was reported by TickerTech Dividends on November 10.
Market Performance and Financial Metrics
On the same day the dividend was declared, shares of Polaris Renewable Energy (TSE:PIF) experienced a slight increase, trading up by C$0.05 to reach C$12.67. The trading volume amounted to 34,891 shares, closely resembling the average volume of 35,603 shares.
The company currently holds a market capitalization of approximately C$265.87 million. Financial metrics reveal a price-to-earnings (P/E) ratio of -23.46, alongside a price-to-earnings-growth (PEG) ratio of 3.28 and a beta of 0.48. In terms of stock performance over the past year, Polaris Renewable Energy has seen a low of C$10.70 and a high of C$14.20.
Investors may note that the firm has maintained a 50-day simple moving average of C$13.45 and a 200-day simple moving average of C$12.55. Financial stability is indicated by a current ratio of 1.82, a quick ratio of 1.64, and a debt-to-equity ratio of 57.48.
The announcement of the quarterly dividend illustrates Polaris Renewable Energy’s ongoing strategy to reward its investors while maintaining a solid balance sheet. As the company continues to navigate the renewable energy sector, shareholders are keenly watching for updates on both financial performance and dividend distributions.
