Gazit Globe Ltd (NYSE:GZT) (TSE:GZT) announced a special dividend on Monday, April 2nd, Wall Street Journal reports. Shareholders of record on Thursday, April 12th will be given a dividend of 0.109 per share by the real estate investment trust on Tuesday, April 24th. The ex-dividend date of this dividend is Thursday, April 12th. This is a boost from Gazit Globe’s previous special dividend of $0.10.
Gazit Globe has decreased its dividend payment by an average of 16.7% annually over the last three years and has raised its dividend every year for the last 2 years. Gazit Globe has a payout ratio of 39.6% indicating that its dividend is sufficiently covered by earnings.
GZT stock opened at $9.65 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.41 and a quick ratio of 0.41. Gazit Globe has a 1 year low of $9.01 and a 1 year high of $11.00.
Gazit Globe declared that its board has approved a share repurchase plan on Wednesday, March 28th that allows the company to repurchase outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Vice Chairman Chaim Katzman sold 119,761 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $65.11, for a total value of $7,797,638.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
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About Gazit Globe
Gazit-Globe Ltd. is a real estate company specialized in retail premises. The Company is engaged in the acquisition, development and management of properties. Its segments include Finland, Norway, Sweden, and Estonia and Denmark. It focuses on supermarket-anchored shopping centers in urban growth markets.
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