Global Industrial (NYSE:GIC) to Issue Quarterly Dividend of $0.26

Global Industrial (NYSE:GIC) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.26 per share on Monday, March 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Global Industrial’s previous quarterly dividend of $0.25.

Global Industrial has a dividend payout ratio of 49.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Global Industrial to earn $1.66 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 60.2%.

Global Industrial Stock Down 0.5 %

Shares of GIC traded down $0.13 during mid-day trading on Wednesday, hitting $24.16. 146,859 shares of the company traded hands, compared to its average volume of 114,180. The company has a market capitalization of $923.66 million, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. The business has a 50 day moving average of $24.63 and a 200 day moving average of $28.74. Global Industrial has a 1-year low of $23.09 and a 1-year high of $46.97.

Global Industrial (NYSE:GIC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The business had revenue of $302.30 million for the quarter, compared to analysts’ expectations of $306.07 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. As a group, research analysts expect that Global Industrial will post 1.59 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.