Algoma Steel Group Inc. (TSE:ASTL) Announces Quarterly Dividend of $0.05

Algoma Steel Group Inc. (TSE:ASTL - Get Free Report) declared a quarterly dividend on Wednesday, November 27th,TickerTech Dividends reports. Investors of record on Friday, December 27th will be given a dividend of 0.05 per share on Friday, December 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Wednesday, November 27th.

Algoma Steel Group Price Performance

ASTL traded down C$0.37 on Monday, reaching C$15.34. 20,695 shares of the company's stock were exchanged, compared to its average volume of 58,318. Algoma Steel Group has a twelve month low of C$9.16 and a twelve month high of C$16.83. The stock has a market cap of C$1.60 billion, a PE ratio of -71.41 and a beta of 1.50. The company has a debt-to-equity ratio of 40.70, a current ratio of 4.19 and a quick ratio of 1.51. The stock's fifty day moving average price is C$14.33 and its 200-day moving average price is C$12.46.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Algoma Steel Group from C$20.00 to C$22.00 in a report on Friday. BMO Capital Markets upped their price objective on shares of Algoma Steel Group from C$13.00 to C$15.00 in a research note on Thursday, August 15th.

Insider Activity at Algoma Steel Group

In other news, Director David Daniel Sgro sold 6,845 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of C$10.06, for a total value of C$68,842.90. Also, Director Michael Allan Mcquade sold 36,260 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$13.80, for a total transaction of C$500,388.00. Company insiders own 7.57% of the company's stock.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.