Gerdau S.A. (GGB) to Issue Quarterly Dividend of $0.04 on June 16th

Gerdau S.A. (NYSE:GGB) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Friday, May 15th will be paid a dividend of 0.0361 per share by the basic materials company on Tuesday, June 16th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, May 15th. This is a 86.3% increase from Gerdau’s previous quarterly dividend of $0.02.

Gerdau has increased its dividend payment by an average of 0.2%annually over the last three years. Gerdau has a dividend payout ratio of 31.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gerdau to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 20.0%.

Gerdau Stock Performance

Shares of GGB stock opened at $4.80 on Wednesday. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 30.01 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 2.76. Gerdau has a 52 week low of $2.61 and a 52 week high of $4.98. The firm’s 50-day simple moving average is $3.96 and its two-hundred day simple moving average is $3.89.

Gerdau (NYSE:GGB) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.36 billion. Gerdau had a return on equity of 6.76% and a net margin of 2.40%. As a group, equities analysts forecast that Gerdau will post 0.51 earnings per share for the current year.

About Gerdau

Gerdau SA is a Brazilian-based steel producer engaged in the manufacture and distribution of long steel products for the construction, industrial and agricultural sectors. Established in 1901, the company operates an integrated network of electric-arc furnaces and rolling mills, producing reinforcement bars, wire rod, merchant bars and structural shapes. Gerdau’s product portfolio also includes specialty long steel, high-yield reinforcement, rail, beams and steel coils, as well as value-added processing services such as cutting, bending and coating.

The company has expanded its footprint beyond Brazil, with significant operations in North America, South America and a presence in select European markets.