Mullen Group Ltd (MTL) to Issue Monthly Dividend of $0.05

Mullen Group Ltd (TSE:MTL) declared a monthly dividend on Thursday, September 20th, Zacks reports. Shareholders of record on Sunday, September 30th will be given a dividend of 0.05 per share on Monday, October 15th. This represents a $0.60 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, September 27th.

Shares of Mullen Group stock traded up C$0.03 on Wednesday, hitting C$15.20. The company had a trading volume of 114,013 shares, compared to its average volume of 111,631. Mullen Group has a 52 week low of C$14.10 and a 52 week high of C$17.45.

Mullen Group (TSE:MTL) last issued its earnings results on Wednesday, July 25th. The company reported C$0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.10 by C$0.05. The firm had revenue of C$295.70 million during the quarter, compared to analysts’ expectations of C$286.40 million. Mullen Group had a net margin of 1.81% and a return on equity of 2.17%.

In related news, Director David Edward Mullen sold 700,000 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of C$15.00, for a total value of C$10,500,000.00.

A number of analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Mullen Group from C$16.00 to C$18.00 and gave the stock an “outperform” rating in a report on Friday, July 27th. BMO Capital Markets raised their target price on shares of Mullen Group from C$16.00 to C$18.00 and gave the stock a “market perform” rating in a report on Friday, July 27th. Cormark upgraded shares of Mullen Group from a “market perform” rating to a “buy” rating and raised their target price for the stock from C$15.00 to C$19.00 in a report on Friday, July 27th. CIBC raised their target price on shares of Mullen Group from C$17.00 to C$18.00 in a report on Friday, July 27th. Finally, Canaccord Genuity raised their target price on shares of Mullen Group from C$16.25 to C$17.50 in a report on Friday, August 17th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$17.26.

Mullen Group Company Profile

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment offers long haul and local transportation services to customers in various industries. The Oilfield Services segment provides specialized transportation, fluid hauling, waste disposal, warehousing, drilling, well-servicing, and dewatering services to the oil and natural gas industry in western Canada, which includes the exploration and development companies, as well as production and natural gas transmission companies.

Featured Article: How are the companies in the S&P 500 selected?

Dividend History for Mullen Group (TSE:MTL)

Receive News & Ratings for Mullen Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mullen Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply