Global Industrial (GIC) To Go Ex-Dividend on March 10th

Global Industrial (NYSE:GIC) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Investors of record on Monday, March 10th will be given 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 4.32%. The ex-dividend date of this dividend is Monday, March 10th. This is a 4.0% increase from Global Industrial’s previous quarterly dividend of $0.25.

Global Industrial has increased its dividend by an average of 16.0% annually over the last three years. Global Industrial has a payout ratio of 53.9% 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 $1.04 annual dividend with an expected future payout ratio of 62.7%.

Global Industrial Price Performance

NYSE:GIC opened at $24.07 on Friday. The firm’s fifty day moving average price is $24.37 and its 200 day moving average price is $28.37. Global Industrial has a 1-year low of $22.62 and a 1-year high of $46.97. The firm has a market cap of $922.15 million, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data 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). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The firm had revenue of $302.30 million during the quarter, compared to analysts’ expectations of $306.07 million. As a group, analysts expect that Global Industrial will post 1.59 earnings per share for the current fiscal 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.