Ex-Dividend Alert: Norbord Has a Dividend Yield of 6.74% and is Going to Trade Ex-Dividend on 28th February

LONDON, UK / ACCESSWIRE / February 27, 2018 / Active-Investors has a free review on Norbord Inc. (NYSE: OSB) following the Company’s announcement that it will begin trading ex-dividend on February 28, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on February 27, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on OSB:

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Dividend Declared

On February 02, 2018, Norbord’s Board of Directors declared a quarterly dividend of C$0.60 per common share, payable on March 21, 2018, to shareholders of record on March 01, 2018.

Norbord’s dividends are declared in Canadian dollars. Registered and beneficial shareholders may opt to receive their dividends in either Canadian dollars or the US dollar equivalent. Unless they request the US dollar equivalent, shareholders will receive dividends in Canadian dollars.

Norbord’s indicated dividend represents a yield of 6.74%, which was more than five times the average dividend yield of 1.14% for the Industrial Goods sector.

Dividend Insight

Norbord has a dividend payout ratio of 66.1%, which denotes that the Company spends approximately $0.66 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Norbord is forecasted to report earnings of $3.57 for the next year, which is substantially higher than the Company’s annualized dividend of C$2.40 per share.

During FY17, Norbord significantly reduced its financial leverage in FY17, permanently paying down $200 million in long-term debt and reducing the Company’s net debt to capitalization ratio from 41% to 21%. Norbord added more than $80 million in cash to the balance sheet totaling $241 million as on December 31, 2017, even after substantial debt repayment, capital investments and dividend payments. The Company’s quarterly dividend was increased three times during FY17, paying out a total of $101 million in the year. Norbord’s balance sheet remains strong and is well positioned over the long-term to sustain its dividend distribution

About Norbord Inc.

Norbord manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers primarily in North America and Europe. The Company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures. The Company was formerly known as Nexfor Inc. and changed its name to Norbord Inc. in June 2004.

Norbord was founded in 1987 and is headquartered in Toronto, Canada.

Stock Performance Snapshot

February 26, 2018 – At Monday’s closing bell, Norbord’s stock dropped 1.26%, ending the trading session at $35.16.

Volume traded for the day: 154.24 thousand shares, which was above the 3-month average volume of 137.11 thousand shares.

Stock performance in the last three-month – up 0.26%; previous six-month period – up 5.84%; past twelve-month period – up 20.29%; and year-to-date – up 3.99%

After yesterday’s close, Norbord’s market cap was at $3.04 billion.

Price to Earnings (P/E) ratio was at 6.99.

The stock has a dividend yield of 5.57%.

The stock is part of the Services sector, categorized under the Building Materials Wholesale industry. This sector was up 0.7% at the end of the session.

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