Gerdau S.A. (NYSE:GGB) Increases Dividend to $0.06 Per Share

Gerdau S.A. (NYSE:GGBGet Free Report) announced a quarterly dividend on Friday, May 3rd, Zacks reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.055 per share by the basic materials company on Tuesday, June 4th. This represents a $0.22 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Gerdau’s previous quarterly dividend of $0.02.

Gerdau has increased its dividend payment by an average of 58.3% per year over the last three years. Gerdau has a dividend payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Gerdau to earn $0.48 per share next year, which means the company should continue to be able to cover its $0.07 annual dividend with an expected future payout ratio of 14.6%.

Gerdau Trading Up 1.6 %

GGB traded up $0.06 during trading on Wednesday, reaching $3.80. 17,519,071 shares of the company’s stock were exchanged, compared to its average volume of 8,448,979. The company’s fifty day moving average price is $3.55 and its 200-day moving average price is $3.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.29 and a current ratio of 2.79. Gerdau has a fifty-two week low of $3.42 and a fifty-two week high of $5.13. The firm has a market capitalization of $8.01 billion, a PE ratio of 6.26 and a beta of 1.74.

Gerdau (NYSE:GGBGet Free Report) last released its earnings results on Thursday, March 28th. The basic materials company reported $0.06 EPS for the quarter. Gerdau had a net margin of 9.57% and a return on equity of 11.04%. The firm had revenue of $2.97 billion during the quarter. As a group, equities analysts forecast that Gerdau will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised shares of Gerdau from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $4.17 to $5.00 in a report on Monday, April 15th.

Check Out Our Latest Report on GGB

Gerdau Company Profile

(Get Free Report)

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.

Further Reading

Dividend History for Gerdau (NYSE:GGB)

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