Granite Construction Incorporated (NYSE:GVA) to Issue $0.13 Quarterly Dividend

Granite Construction Incorporated (NYSE:GVA) announced a quarterly dividend on Thursday, September 10th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.13 per share by the construction company on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, September 30th.

Granite Construction has a payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Granite Construction to earn $8.24 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 6.3%.

Granite Construction Price Performance

NYSE:GVA opened at $115.12 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.01 and a quick ratio of 0.94. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of -26.71 and a beta of 1.32. The company has a 50 day moving average price of $124.48 and a 200-day moving average price of $129.94. Granite Construction has a 1-year low of $97.26 and a 1-year high of $162.08.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, July 30th. The construction company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.09). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. Granite Construction had a negative net margin of 3.32% and a positive return on equity of 27.83%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 earnings per share. Equities research analysts forecast that Granite Construction will post 6.36 EPS for the current year.

Granite Construction Company Profile

Granite Construction Incorporated (NYSE:GVA) is a civil infrastructure contractor that delivers construction and engineering services for public and private-sector customers. The company’s work includes the development and rehabilitation of transportation infrastructure such as highways, roads, bridges, airports, rail systems and mass-transit facilities.

Granite also provides services for water and wastewater systems, dams, utilities and other complex infrastructure projects. Its capabilities include project development, construction management, design-build delivery, general contracting, excavation, paving and related construction services.