K Bro Linen Inc (KBL) Announces $0.10 Monthly Dividend

K Bro Linen Inc (TSE:KBL) announced a monthly dividend on Friday, December 15th, Zacks reports. Stockholders of record on Sunday, December 31st will be paid a dividend of 0.10 per share on Monday, January 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, December 28th.

Shares of K Bro Linen (KBL) traded up C$0.57 during trading on Friday, hitting C$42.07. The stock had a trading volume of 23,000 shares, compared to its average volume of 11,506. The company has a market capitalization of $432.63, a price-to-earnings ratio of 40.45 and a beta of 0.60. K Bro Linen has a 12 month low of C$37.39 and a 12 month high of C$45.00.

A number of brokerages have recently commented on KBL. National Bank Financial upgraded K Bro Linen from a “sector perform market weight” rating to an “outperform market weight” rating in a report on Tuesday, December 12th. TD Securities boosted their price target on K Bro Linen from C$45.00 to C$48.00 and gave the company a “buy” rating in a report on Friday, December 15th.

In other news, insider Ryo Utahara sold 650 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of C$42.50, for a total value of C$27,625.00.

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About K Bro Linen

K Bro Linen Inc is a Canada-based owner and operator of laundry and linen processing facilities. The Company provides laundry and linen services to healthcare institutions, hotels and other commercial accounts. The Company’s services include the processing, management and distribution of general and operating room linens (K Bro Operating Room (KOR) Services), including sheets, blankets, towels, tablecloths, surgical gowns and drapes, and other types of linen.

Dividend History for K Bro Linen (TSE:KBL)

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