Global Industrial (NYSE:GIC) Announces Quarterly Dividend of $0.25

Global Industrial (NYSE:GIC) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.25 per share on Monday, May 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, May 10th.

Global Industrial has raised its dividend payment by an average of 12.6% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Global Industrial has a payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Global Industrial to earn $2.38 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 42.0%.

Global Industrial Stock Performance

Shares of NYSE:GIC opened at $34.51 on Thursday. The firm has a market cap of $1.32 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The firm’s fifty day moving average is $43.51 and its 200-day moving average is $39.96. Global Industrial has a 52 week low of $20.52 and a 52 week high of $46.97.

Global Industrial (NYSE:GIC) last announced its earnings results on Thursday, February 29th. The company reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. Global Industrial had a net margin of 5.34% and a return on equity of 28.85%. The business had revenue of $320.10 million during the quarter, compared to the consensus estimate of $313.50 million. Sell-side analysts forecast that Global Industrial will post 2.03 EPS for the current year.

Insider Transactions at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 380,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.15, for a total transaction of $15,637,000.00. Following the completion of the sale, the insider now directly owns 139,800 shares of the company’s stock, valued at $5,752,770. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 66.34% of the stock is currently owned by insiders.

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.