Norbord Inc. (NYSE:OSB) announced a quarterly dividend on Monday, February 5th, Wall Street Journal reports. Shareholders of record on Thursday, March 1st will be paid a dividend of 0.4862 per share by the construction company on Wednesday, March 21st. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date of this dividend is Wednesday, February 28th. This is an increase from Norbord’s previous quarterly dividend of $0.47.
Norbord has a dividend payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Norbord to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.87 annual dividend with an expected future payout ratio of 74.8%.
Shares of Norbord (NYSE:OSB) opened at $35.16 on Tuesday. The firm has a market cap of $3,076.77, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 1.14 and a beta of 3.38. Norbord has a twelve month low of $27.00 and a twelve month high of $41.88. The company has a current ratio of 1.83, a quick ratio of 1.20 and a debt-to-equity ratio of 0.54.
OSB has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Norbord from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Friday, January 26th. Scotiabank reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Norbord in a report on Tuesday, November 14th. TD Securities dropped their price objective on shares of Norbord from $43.00 to $39.00 and set a “hold” rating on the stock in a report on Monday, October 30th. Bank of America set a $31.00 price objective on shares of Norbord and gave the stock a “sell” rating in a report on Wednesday, January 24th. Finally, ValuEngine raised shares of Norbord from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Norbord has an average rating of “Hold” and an average target price of $40.00.
Norbord Company Profile
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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