Dollarama Inc. (TSE:DOL) Raises Dividend to $0.06 Per Share

Dollarama Inc. (TSE:DOL – Get Rating) announced a quarterly dividend on Wednesday, March 30th, Zacks reports. Shareholders of record on Friday, April 15th will be paid a dividend of 0.055 per share on Friday, May 6th. This represents a $0.22 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Wednesday, April 13th. This is an increase from Dollarama’s previous quarterly dividend of $0.05.

Shares of Dollarama stock opened at C$73.60 on Tuesday. Dollarama has a 12-month low of C$52.22 and a 12-month high of C$76.56. The stock has a market capitalization of C$21.55 billion and a P/E ratio of 36.60. The stock has a 50 day moving average price of C$68.03 and a two-hundred day moving average price of C$62.12. The company has a quick ratio of 0.22, a current ratio of 1.32 and a debt-to-equity ratio of 18,873.64.

In other Dollarama news, Director Joshua Bekenstein sold 2,284 shares of the firm’s stock in a transaction that occurred on Thursday, January 13th. The stock was sold at an average price of C$63.99, for a total value of C$146,150.88. Following the completion of the transaction, the director now directly owns 24,716 shares in the company, valued at C$1,581,552.12.

A number of research analysts recently commented on the company. BMO Capital Markets upped their target price on Dollarama from C$71.00 to C$77.00 in a research note on Thursday, March 31st. TD Securities upped their target price on Dollarama from C$72.00 to C$80.00 and gave the company a “buy” rating in a research note on Thursday, March 31st. Wells Fargo & Company upped their target price on Dollarama from C$73.00 to C$78.00 and gave the company an “equal weight” rating in a research note on Thursday, March 31st. Desjardins upgraded Dollarama from a “hold” rating to a “buy” rating in a research note on Monday, March 7th. Finally, Canaccord Genuity Group upped their target price on Dollarama from C$65.00 to C$70.00 in a research note on Thursday, March 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Dollarama presently has a consensus rating of “Buy” and a consensus target price of C$73.09.

About Dollarama (Get Rating)

Dollarama Inc operates a chain of dollar stores in Canada. Its stores offer general merchandise, consumables, and seasonal items. The company also offers products online. As of January 31, 2021, it operated 1,355 stores. The company was formerly known as Dollarama Capital Corporation and changed its name to Dollarama Inc in September 2009.

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