Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Announces Dividend Increase – $0.16 Per Share

Grupo Financiero Galicia S.A. (NASDAQ:GGALGet Free Report) declared a monthly dividend on Thursday, March 19th. Stockholders of record on Monday, March 30th will be given a dividend of 0.16 per share by the bank on Monday, April 6th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, March 30th. This is a 3.8% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15.

Grupo Financiero Galicia has increased its dividend payment by an average of 0.5%annually over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Grupo Financiero Galicia to earn $7.26 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 26.4%.

Grupo Financiero Galicia Stock Performance

Shares of Grupo Financiero Galicia stock opened at $42.70 on Friday. The business’s 50 day simple moving average is $47.60 and its 200 day simple moving average is $45.86. Grupo Financiero Galicia has a 52-week low of $25.89 and a 52-week high of $66.24. The firm has a market cap of $6.30 billion, a PE ratio of 21.57 and a beta of 1.48.

Grupo Financiero Galicia (NASDAQ:GGALGet Free Report) last released its quarterly earnings results on Saturday, February 14th. The bank reported ($0.36) earnings per share for the quarter. The firm had revenue of $666.89 million for the quarter. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%. As a group, equities research analysts predict that Grupo Financiero Galicia will post 7.49 EPS for the current year.

Grupo Financiero Galicia Company Profile

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Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.

Further Reading

Dividend History for Grupo Financiero Galicia (NASDAQ:GGAL)

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