K-Bro Linen (TSX: KBL) is a Edmonton, Canada-based owner and operator of laundry and linen processing facilities. The company provides laundry and linen services to Canadian healthcare, hospitality and other commercial customers. Its services include the processing, management and distribution of general and operating room linens.
K-Bro Linen recently declared a dividend for the month of April. The company will pay a dividend of 10 cents per common share to shareholders of record on April 30, 2016. The dividend will be paid on May 13, 2016. K-Bro Linen currently offers a yield of 2.75%.
K-Bro Linen shares have struggled since the start of this year, underperforming the broader market. Year-to-date, the stock is down more than 12%, compared to a gain of 4.36% for the S&P/TSX Composite Index. KBL’s underperformance is mainly due to a sharp drop at the end of the February.
Back in March, KBL had reported its 2015 annual results, posting revenue of $144.5 million for the full year. The company’s revenue rose 5.9% on a year-over-year basis. KBL’s net earnings after taxes dropped to $12.1 million in fiscal 2015.
