Global Industrial (GIC) to Issue Quarterly Dividend of $0.25 on May 20th

Global Industrial (NYSE:GIC) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.25 per share on Monday, May 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, May 10th.

Global Industrial has raised its dividend by an average of 12.6% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Global Industrial has a dividend payout ratio of 43.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Global Industrial to earn $2.29 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 43.7%.

Global Industrial Stock Down 0.8 %

GIC stock opened at $34.70 on Wednesday. Global Industrial has a 52 week low of $23.08 and a 52 week high of $46.97. The business has a 50-day simple moving average of $42.55 and a 200 day simple moving average of $40.00. The company has a market cap of $1.32 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.11 and a beta of 0.92.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Global Industrial had a net margin of 5.34% and a return on equity of 28.39%. The business had revenue of $320.10 million during the quarter, compared to analysts’ expectations of $313.50 million. On average, analysts anticipate that Global Industrial will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Global Industrial news, Vice Chairman Bruce Leeds sold 380,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $41.15, for a total transaction of $15,637,000.00. Following the completion of the transaction, the insider now owns 139,800 shares of the company’s stock, valued at $5,752,770. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 65.30% of the stock is currently owned by company insiders.

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.