Toromont Industries Ltd (TIH) to Issue Quarterly Dividend of $0.23 on October 2nd

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Toromont Industries Ltd (TSE:TIH) announced a quarterly dividend on Thursday, September 6th, TickerTech reports. Investors of record on Tuesday, October 2nd will be paid a dividend of 0.23 per share on Tuesday, October 2nd. This represents a $0.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, September 6th.

Shares of TSE:TIH opened at C$63.78 on Wednesday. Toromont Industries has a 52 week low of C$46.24 and a 52 week high of C$67.70.

In other news, Director Wayne S. Hill sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of C$60.10, for a total transaction of C$150,250.00. Also, insider Jennifer Cochrane sold 4,000 shares of the stock in a transaction dated Monday, June 18th. The shares were sold at an average price of C$59.90, for a total value of C$239,600.00. Over the last ninety days, insiders have sold 30,700 shares of company stock worth $1,995,967.

TIH has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Toromont Industries from C$60.00 to C$65.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 26th. Raymond James increased their target price on Toromont Industries from C$67.00 to C$71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. National Bank Financial increased their target price on Toromont Industries from C$63.00 to C$68.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. TD Securities increased their target price on Toromont Industries from C$67.00 to C$70.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Finally, CIBC increased their target price on Toromont Industries from C$61.00 to C$64.00 in a research note on Thursday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of C$67.14.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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Dividend History for Toromont Industries (TSE:TIH)

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