Alaris Royalty (AD) Sets New 52-Week High After Dividend Announcement

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Alaris Royalty Corp. (TSE:AD) shares reached a new 52-week high on Thursday after the company announced a dividend. The company traded as high as C$19.16 and last traded at C$18.92, with a volume of 56572 shares traded. The stock had previously closed at C$19.02.

The newly announced dividend which will be paid on Monday, September 17th. Shareholders of record on Monday, September 17th will be given a $0.135 dividend. The ex-dividend date is Thursday, August 30th. This represents a $1.62 dividend on an annualized basis and a yield of 8.59%.

A number of equities research analysts have commented on AD shares. National Bank Financial reduced their target price on Alaris Royalty to C$20.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 8th. CIBC reduced their target price on Alaris Royalty from C$21.00 to C$18.00 in a research report on Wednesday, May 9th. Raymond James reduced their target price on Alaris Royalty from C$20.00 to C$18.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 9th. Scotiabank downgraded Alaris Royalty from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$22.00 to C$17.50 in a research report on Wednesday, May 9th. Finally, Desjardins reduced their target price on Alaris Royalty from C$20.50 to C$19.00 in a research report on Saturday, July 14th.

In other Alaris Royalty news, Director Jack Chuck Lee acquired 3,200 shares of the stock in a transaction dated Tuesday, July 3rd. The stock was acquired at an average cost of C$15.74 per share, with a total value of C$50,368.00.

Alaris Royalty Company Profile (TSE:AD)

Alaris Royalty Corp. is a private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments. The firm does not invest in turnarounds and start-ups. It prefers to invest in the companies based in all industries except for those with a declining asset base, such as oil and gas resource companies, or any industry that carry the risk of obsolescence such as high tech and focuses on business services, professional services, information services, healthcare services, distribution & logistics, industrials, consumer products.

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