Gildan Activewear, Inc. (GIL) to Issue Quarterly Dividend of $0.25 on September 14th

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Wednesday, July 29th. Shareholders of record on Thursday, August 20th will be given a dividend of 0.249 per share by the textile maker on Monday, September 14th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 20th.

Gildan Activewear has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Gildan Activewear has a dividend payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Gildan Activewear to earn $5.41 per share next year, which means the company should continue to be able to cover its $0.99 annual dividend with an expected future payout ratio of 18.3%.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $55.84 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15. The company has a market cap of $10.34 billion, a PE ratio of 107.39 and a beta of 1.11. The company’s fifty day simple moving average is $54.05 and its 200-day simple moving average is $58.84. Gildan Activewear has a 52 week low of $46.55 and a 52 week high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The firm’s revenue was up 72.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. As a group, equities research analysts anticipate that Gildan Activewear will post 4.67 EPS for the current year.

Institutional Trading of Gildan Activewear

Hedge funds and other institutional investors have recently bought and sold shares of the company. Islay Capital Management LLC bought a new position in Gildan Activewear during the 4th quarter worth approximately $25,000. Larson Financial Group LLC increased its holdings in shares of Gildan Activewear by 3,516.7% in the 4th quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 422 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Gildan Activewear by 161.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 343 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Gildan Activewear by 14,833.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 445 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Gildan Activewear by 867.9% during the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after purchasing an additional 460 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.