Shares of Student Transportation Inc. (TSE:STB) (NASDAQ:STB) reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as C$9.61 and last traded at C$9.60, with a volume of 4617087 shares. The stock had previously closed at C$7.67.
The newly announced dividend which will be paid on Thursday, March 15th. Investors of record on Thursday, March 15th will be issued a $0.0367 dividend. This represents a $0.44 annualized dividend and a yield of 4.59%. The ex-dividend date is Tuesday, February 27th. Student Transportation’s dividend payout ratio is currently 141.95%.
Several analysts recently weighed in on STB shares. BMO Capital Markets boosted their price objective on Student Transportation from C$7.60 to C$7.75 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Scotiabank lowered Student Transportation from a “sector perform” rating to a “tender” rating and boosted their price objective for the company from C$8.00 to C$9.60 in a report on Wednesday. National Bank Financial lowered Student Transportation from an “outperform” rating to a “tender” rating and boosted their price objective for the company from C$9.50 to C$9.58 in a report on Wednesday. Finally, Raymond James Financial lowered Student Transportation from an “outperform” rating to a “market perform” rating in a report on Thursday.
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About Student Transportation
Student Transportation Inc is a Canada-based company engaged in providing school bus transportation services in North America. The Company provides school bus and management services to public and private schools in North America and offers services, such as contracted services, special needs transportation, charter services, direct to parent and used bus sales.
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