Global Industrial Company (GIC) to Distribute Quarterly Dividend of $0.28 on March 16th

Global Industrial Company (NYSE:GIC) declared a quarterly dividend on Monday, February 23rd. Stockholders of record on Monday, March 9th will be paid a dividend of 0.28 per share on Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, March 9th. This is a 7.7% increase from Global Industrial’s previous quarterly dividend of $0.26.

Global Industrial has decreased its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 9 years. Global Industrial has a dividend payout ratio of 60.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Global Industrial to earn $1.66 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 67.5%.

Global Industrial Stock Performance

Global Industrial stock opened at $31.98 on Friday. The stock has a market capitalization of $1.22 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.02 and a beta of 0.90. The company’s fifty day moving average price is $31.46 and its 200 day moving average price is $32.20. Global Industrial has a 1 year low of $20.79 and a 1 year high of $38.79.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $345.60 million during the quarter, compared to analysts’ expectations of $324.86 million. Global Industrial had a net margin of 5.23% and a return on equity of 23.56%. Sell-side analysts predict that Global Industrial will post 1.59 EPS for the current year.

Institutional Investors Weigh In On Global Industrial

A number of hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System purchased a new position in shares of Global Industrial in the fourth quarter worth about $38,000. State of Alaska Department of Revenue purchased a new stake in Global Industrial during the 3rd quarter valued at about $79,000. Advisors Asset Management Inc. grew its stake in Global Industrial by 234.9% during the 4th quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock valued at $73,000 after acquiring an additional 1,755 shares in the last quarter. State of Wyoming acquired a new stake in Global Industrial in the 2nd quarter valued at about $117,000. Finally, Arizona State Retirement System acquired a new stake in Global Industrial in the 3rd quarter valued at about $208,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

About Global Industrial

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.