Gerdau S.A. (GGB) to Issue Quarterly Dividend of $0.02 on March 21st

Gerdau S.A. (NYSE:GGB) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Friday, March 7th will be paid a dividend of 0.0175 per share by the basic materials company on Friday, March 21st. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Friday, March 7th.

Gerdau has decreased its dividend payment by an average of 20.6% per year over the last three years. Gerdau has a payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gerdau to earn $0.47 per share next year, which means the company should continue to be able to cover its $0.07 annual dividend with an expected future payout ratio of 14.9%.

Gerdau Price Performance

Shares of GGB stock opened at $2.93 on Wednesday. The stock’s 50-day moving average is $2.91 and its 200 day moving average is $3.18. Gerdau has a 1-year low of $2.67 and a 1-year high of $4.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The company has a market cap of $6.08 billion, a P/E ratio of 6.76 and a beta of 1.73.

Gerdau (NYSE:GGB) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.66 billion. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. Research analysts predict that Gerdau will post 0.46 earnings per share for the current fiscal year.

About Gerdau

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.