Mullen Group Ltd (MTL) Plans Monthly Dividend of $0.05

Mullen Group Ltd (TSE:MTL) declared a monthly dividend on Wednesday, June 20th, Zacks reports. Shareholders of record on Saturday, June 30th will be paid a dividend of 0.05 per share on Monday, July 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, June 28th.

Shares of Mullen Group traded up C$0.67, reaching C$15.39, during trading on Friday, according to Marketbeat Ratings. The company’s stock had a trading volume of 269,000 shares, compared to its average volume of 118,964. Mullen Group has a twelve month low of C$14.10 and a twelve month high of C$17.62.

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Mullen Group (TSE:MTL) last announced its earnings results on Wednesday, April 25th. The company reported C$0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.15 by C($0.06). Mullen Group had a net margin of 1.81% and a return on equity of 2.17%. The business had revenue of C$292.13 million during the quarter, compared to analyst estimates of C$305.07 million.

In other news, Director Christine Ellen Mcginley purchased 1,930 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The shares were acquired at an average cost of C$15.00 per share, with a total value of C$28,950.00.

A number of equities analysts have issued reports on the company. National Bank Financial lowered Mullen Group from an “outperform” rating to a “sector perform” rating and set a C$16.50 target price on the stock. in a research report on Thursday, April 26th. Industrial Alliance Securities upped their target price on Mullen Group from C$18.00 to C$18.25 in a research report on Tuesday, June 12th. Canaccord Genuity cut their target price on Mullen Group from C$16.00 to C$15.75 in a research report on Wednesday, April 11th. Scotiabank cut their target price on Mullen Group from C$16.50 to C$16.00 and set a “sector perform” rating on the stock in a research report on Friday, April 27th. Finally, Raymond James upped their target price on Mullen Group from C$14.70 to C$14.85 and gave the company a “market perform” rating in a research report on Tuesday, June 12th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of C$16.73.

About Mullen Group

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment offers long haul and local transportation services to customers in various industries. The Oilfield Services segment provides specialized transportation, fluid hauling, waste disposal, warehousing, drilling, well-servicing, and dewatering services to the oil and natural gas industry in western Canada, which includes the exploration and development companies, as well as production and natural gas transmission companies.

Dividend History for Mullen Group (TSE:MTL)

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