Grupo Financiero Galicia S.A. (NASDAQ:GGAL) to Issue Dividend Increase – $0.16 Per Share

Grupo Financiero Galicia S.A. (NASDAQ:GGALGet Free Report) announced a monthly dividend on Thursday, March 19th. Stockholders of record on Monday, March 30th will be paid a dividend of 0.16 per share by the bank on Monday, April 6th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, March 30th. This is a 3.8% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15.

Grupo Financiero Galicia has increased its dividend payment by an average of 0.5%annually over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Grupo Financiero Galicia to earn $7.26 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 26.4%.

Grupo Financiero Galicia Price Performance

NASDAQ GGAL opened at $42.70 on Friday. The stock’s fifty day moving average price is $47.60 and its 200 day moving average price is $45.86. Grupo Financiero Galicia has a 1 year low of $25.89 and a 1 year high of $66.24. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 21.57 and a beta of 1.48.

Grupo Financiero Galicia (NASDAQ:GGALGet Free Report) last issued its quarterly earnings results on Saturday, February 14th. The bank reported ($0.36) EPS for the quarter. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%.The firm had revenue of $666.89 million for the quarter. Research analysts expect that Grupo Financiero Galicia will post 7.49 earnings per share for the current year.

About Grupo Financiero Galicia

(Get Free Report)

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.

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Dividend History for Grupo Financiero Galicia (NASDAQ:GGAL)

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