Global Industrial Company (NYSE:GIC) Announces $0.28 Quarterly Dividend

Global Industrial Company (NYSE:GIC) declared a quarterly dividend on Tuesday, August 4th. Investors of record on Monday, August 17th will be paid a dividend of 0.28 per share on Monday, August 24th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, August 17th.

Global Industrial has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 9 years. Global Industrial has a dividend payout ratio of 60.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Global Industrial to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 50.7%.

Global Industrial Price Performance

Shares of NYSE:GIC opened at $37.24 on Wednesday. The business’s 50-day moving average is $33.17 and its 200 day moving average is $32.12. Global Industrial has a 1 year low of $26.40 and a 1 year high of $38.79. The firm has a market capitalization of $1.42 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.20 and a beta of 0.75.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a return on equity of 23.53% and a net margin of 5.33%. On average, analysts expect that Global Industrial will post 1.89 EPS for the current year.

Global Industrial Company Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.