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

Global Industrial (NYSE:GIC) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Monday, March 10th will be paid a dividend of 0.26 per share on Monday, March 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Global Industrial’s previous quarterly dividend of $0.25.

Global Industrial has a payout ratio of 49.5% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.7 %

Shares of GIC stock traded down $0.16 on Wednesday, reaching $24.13. The company had a trading volume of 113,445 shares, compared to its average volume of 112,894. The company has a 50-day moving average of $24.63 and a 200-day moving average of $28.74. Global Industrial has a 12 month low of $23.09 and a 12 month high of $46.97. The stock has a market cap of $922.51 million, a PE ratio of 14.22, a PEG ratio of 0.93 and a beta of 0.87.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The firm had revenue of $302.30 million for the quarter, compared to analyst estimates of $306.07 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. Sell-side analysts anticipate that Global Industrial will post 1.59 earnings per share for the current 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.