Global Industrial (NYSE:GIC) Increases Dividend to $0.26 Per Share

Global Industrial (NYSE:GIC) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25.

Global Industrial has a dividend payout ratio of 49.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

GIC stock traded down $0.13 during midday trading on Wednesday, hitting $24.16. The company’s stock had a trading volume of 146,859 shares, compared to its average volume of 114,180. Global Industrial has a 12 month low of $23.09 and a 12 month high of $46.97. The company has a 50 day moving average of $24.63 and a two-hundred day moving average of $28.74. The firm has a market capitalization of $923.66 million, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87.

Global Industrial (NYSE:GIC) last announced 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). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The company had revenue of $302.30 million during the quarter, compared to the consensus estimate of $306.07 million. On average, analysts anticipate that Global Industrial will post 1.59 earnings per share for the current fiscal year.

About Global Industrial

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.