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OKOTOKS, Alberta - Mullen Group Ltd. (TSX:MTL), a company specializing in transportation and logistics services in North America, has announced the declaration of a monthly dividend of $0.07 per Common Share. The dividend is payable to shareholders of record as of the close of business on April 30, 2025, and will be distributed on May 15, 2025. The stock, currently trading at $0.10, has shown strong momentum with a 38% return over the past six months. According to InvestingPro analysis, the company appears to be fairly valued at current levels.
For Canadian residents, the dividend is classified as an "eligible dividend," which qualifies for the enhanced dividend tax credit rules under the Income Tax Act (Canada) and corresponding provincial and territorial legislations.
Mullen Group is known for its extensive portfolio of logistics companies, offering a variety of services such as less-than-truckload, truckload, warehousing, logistics, transload, oversized and specialized hauling transportation. The company also provides specialized services to sectors like energy, mining, forestry, and construction in western Canada, which includes water management, fluid hauling, and environmental reclamation.
The corporate office of Mullen Group supports its network of independently operated businesses by providing capital and financial expertise, legal support, technology and systems, shared services, and strategic planning.
This declaration reflects Mullen Group’s commitment to providing value to its shareholders and its stable position in the logistics and transportation industry. The company is publicly traded on the Toronto Stock Exchange with the ticker symbol "MTL."
Investors and interested parties can find additional information about Mullen Group on the company’s website or on the Corporation’s issuer profile on SEDAR+.
The information in this article is based on a press release statement from Mullen Group Ltd.
In other recent news, Mullen Group Ltd. reported its financial results for the fourth quarter of 2024, maintaining a steady revenue of approximately $500 million, consistent with the previous year. The company achieved an operating income before depreciation and amortization (OIBDA) of $85 million for the quarter and $332.2 million for the full year. Mullen Group is actively pursuing expansion opportunities in the U.S. market due to a challenging Canadian economic environment. In a strategic move, Mullen Group has announced a definitive agreement to acquire Cole Group Inc., which will enhance its logistics capabilities, particularly in customs brokerage and freight forwarding. The acquisition is expected to close in the second quarter of 2025, pending regulatory approvals. Additionally, Mullen Group declared a monthly dividend of $0.07 per Common Share for shareholders on record as of March 31, 2025, with payment due on April 15, 2025. The company plans to allocate $150 million for mergers and acquisitions in 2025 as part of its growth strategy. Analysts from RBC Capital Markets have noted the company’s cautious approach amid trade uncertainties but remain optimistic about potential U.S. market opportunities.
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