Norbord Inc. (TSX: OSB) is a Toronto, Canada-based forest products company. OSB is engaged in the manufacturing and marketing of a range of building material and paper products in North America and Europe.
OSB shares have edged higher in trading today, extending their gains from Friday. At last check, the stock was trading 1.84% higher at $25.47 on volume of nearly 100,000. OSB has been gaining momentum after the company announced its financial results for the first quarter of 2016 and also declared a quarterly dividend.
OSB reported adjusted earnings of $0.23 per diluted share, an improvement of $0.39 per share over the same period in the previous year. Adjusted EBITDA for the quarter was $61 million, an improvement of $45 from the first quarter of 2015.
OSB declared a quarterly dividend of C$0.10 per share. The dividend will be payable on June 21, 2016 to shareholders of record on June 1, 2016. OSB currently offers a dividend yield of 1.57%. While the company has paid dividends regularly since 2014, the dividends have been cut significantly over the last two years. Back in May 2014, the company had paid dividend of C$0.60 per share.
