Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Plans Monthly Dividend of $0.05

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) announced a monthly dividend on Friday, September 18th. Shareholders of record on Monday, September 28th will be paid a dividend of $0.0479 per share by the bank on Monday, October 5th. This represents a $0.57 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 28th. This is a 9.9% decrease from Grupo Financiero Galicia’s previous monthly dividend of $0.0531.

Grupo Financiero Galicia has increased its dividend by an average of 1.0%per year over the last three years. Grupo Financiero Galicia has a payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Grupo Financiero Galicia to earn $5.81 per share next year, which means the company should continue to be able to cover its $0.57 annual dividend with an expected future payout ratio of 9.8%.

Grupo Financiero Galicia Stock Down 2.1%

NASDAQ:GGAL opened at $38.74 on Friday. The business’s 50 day moving average is $45.01 and its two-hundred day moving average is $46.41. Grupo Financiero Galicia has a 52 week low of $26.06 and a 52 week high of $62.51. The company has a market cap of $6.22 billion, a PE ratio of 15.81, a P/E/G ratio of 0.22 and a beta of 1.28.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its earnings results on Tuesday, August 25th. The bank reported $1.14 EPS for the quarter, topping the consensus estimate of $0.98 by $0.16. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.70 billion. As a group, sell-side analysts expect that Grupo Financiero Galicia will post 3.69 EPS for the current fiscal year.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA is an Argentina-based financial services holding company whose principal operating subsidiary is Banco de Galicia y Buenos Aires SAU. The group provides banking and related financial products to individuals, small and medium-sized businesses, corporate clients and agricultural customers in Argentina.

Through its banking operations, Grupo Financiero Galicia offers deposit accounts, personal and commercial loans, credit and debit cards, payment services, foreign trade financing, investment products and digital banking through online and mobile platforms.