South Bow Co. (SOBO) to Issue Quarterly Dividend of $0.50 on January 31st

South Bow Co. (NYSE:SOBO) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.50 per share on Friday, January 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.51%. The ex-dividend date of this dividend is Tuesday, December 31st.

South Bow has a payout ratio of 114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect South Bow to earn $1.80 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 111.1%.

South Bow Stock Performance

Shares of SOBO opened at $23.49 on Friday. The firm has a 50-day moving average of $24.63. South Bow has a 12-month low of $21.12 and a 12-month high of $27.30.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. US Capital Advisors upgraded shares of South Bow to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank raised South Bow to a “hold” rating in a research note on Friday. Tudor Pickering raised South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. Morgan Stanley initiated coverage on South Bow in a research report on Friday, October 25th. They issued an “underweight” rating for the company. Finally, Cibc World Mkts raised shares of South Bow to a “hold” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold”.

South Bow Company Profile

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.