Royal Bank of Canada downgraded shares of Canadian Tire (TSE:CTC – Free Report) from a moderate buy rating to a hold rating in a report published on Friday,Zacks.com reports.
Separately, TD Securities upgraded Canadian Tire from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 9th.
View Our Latest Stock Analysis on CTC
Canadian Tire Price Performance
Canadian Tire Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, January 31st will be given a $1.775 dividend. The ex-dividend date is Friday, January 31st. This represents a $7.10 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from Canadian Tire’s previous quarterly dividend of $1.75. Canadian Tire’s payout ratio is 102.19%.
Canadian Tire Company Profile
Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. It operates in three segments: Retail, CT REIT, and Financial Services. The Retail segment retails automotive maintenance products and accessories, parts, and tires, as well as automotive services and roadside assistance; electrical, hardware, home environment, paint, plumbing, and tool products; cleaning, food & drink, home décor, home essentials, home organization, kitchen, and pet care products; camping, exercise, hockey, hunting, fishing, seasonal recreation, and team sports and golf products; and backyard living, backyard fun, cycling, gardening, outdoor tools, seasonal, and toy products.
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