Global Industrial (NYSE:GIC) Announces Quarterly Dividend of $0.25

Global Industrial (NYSE:GIC) declared a quarterly dividend on Tuesday, July 30th, Wall Street Journal reports. Shareholders of record on Monday, August 12th will be given a dividend of 0.25 per share on Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Monday, August 12th.

Global Industrial has raised its dividend payment by an average of 12.6% annually over the last three years. Global Industrial has a payout ratio of 43.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Global Industrial to earn $2.29 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 43.7%.

Global Industrial Price Performance

Shares of NYSE GIC opened at $34.88 on Thursday. Global Industrial has a fifty-two week low of $28.31 and a fifty-two week high of $46.97. The firm has a market capitalization of $1.33 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.16 and a beta of 0.85. The company’s 50 day simple moving average is $33.12 and its 200 day simple moving average is $38.67.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 27.26%. The business had revenue of $347.80 million for the quarter, compared to the consensus estimate of $348.84 million. During the same period last year, the company posted $0.56 EPS. Sell-side analysts expect that Global Industrial will post 1.93 EPS for the current fiscal year.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.