South Bow Co. (NYSE:SOBO) Announces $0.50 Quarterly Dividend

South Bow Co. (NYSE:SOBO) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders 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 yield of 8.46%. The ex-dividend date of this dividend is Tuesday, December 31st.

South Bow has a dividend 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. Research analysts expect South Bow to earn $1.69 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 118.3%.

South Bow Stock Performance

South Bow stock traded up $0.02 during mid-day trading on Friday, reaching $23.65. 824,074 shares of the company were exchanged, compared to its average volume of 931,545. South Bow has a 12-month low of $21.12 and a 12-month high of $26.11.

Wall Street Analysts Forecast Growth

SOBO has been the subject of several analyst reports. Morgan Stanley initiated coverage on South Bow in a report on Friday, October 25th. They set an “underweight” rating for the company. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a report on Monday, October 28th. Jefferies Financial Group initiated coverage on South Bow in a report on Tuesday, October 8th. They set a “hold” rating for the company. Finally, Cibc World Mkts upgraded South Bow to a “hold” rating in a report on Friday, October 11th.

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.