Colliers raises dividend 25%

Article Excerpt

COLLIERS INTERNATIONAL $47.07 (Toronto symbol CIG ; TSINetwork Rating: Extra Risk) (1-202-695-4200; www.colliers.com; Shares outstanding: 37.3 million; Market cap: $1.8 billion; Dividend yield: 0.3%) is one of the world’s top three commercial real estate firms. With the July 2016 payment, Colliers will raise its twice-yearly dividend by 25%, to $0.05 U.S. from $0.04. The shares yield 0.3%. The company continues to grow by acquisition. Its latest buy is New York City-based Gorton & Partners. That business specializes in project management, as well as real estate sales and leasing. In order for Colliers to keep rising, it needs global real estate markets to continue their recovery. Meantime, its stock trades at a high 15.5 times the $2.35 U.S. it will likely earn in 2016. Colliers International is a hold. hold…