Boise Cascade (NYSE:BCC) to Issue $0.21 Quarterly Dividend

Boise Cascade (NYSE:BCC - Get Free Report) declared a quarterly dividend on Friday, February 7th,RTT News reports. Stockholders of record on Monday, February 24th will be given a dividend of 0.21 per share by the construction company on Wednesday, March 19th. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, February 24th.

Boise Cascade has raised its dividend payment by an average of 25.0% annually over the last three years. Boise Cascade has a dividend payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Boise Cascade to earn $10.15 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 8.3%.

Boise Cascade Stock Performance

Shares of NYSE BCC traded down $0.07 during midday trading on Tuesday, hitting $123.19. 180,366 shares of the stock traded hands, compared to its average volume of 269,369. The firm has a 50-day moving average of $127.09 and a two-hundred day moving average of $133.16. The firm has a market capitalization of $4.73 billion, a P/E ratio of 12.05 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 3.13. Boise Cascade has a one year low of $113.38 and a one year high of $155.42.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price target on Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Loop Capital started coverage on Boise Cascade in a research note on Friday, November 1st. They issued a "buy" rating and a $155.00 price objective for the company. StockNews.com lowered Boise Cascade from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their price objective on Boise Cascade from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. Finally, Truist Financial reduced their price objective on Boise Cascade from $161.00 to $157.00 and set a "buy" rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Boise Cascade currently has an average rating of "Hold" and a consensus price target of $139.60.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.