Global Industrial Company to Issue Quarterly Dividend of $0.28 (NYSE:GIC)

Global Industrial Company (NYSE:GIC) declared a quarterly dividend on Tuesday, May 5th. Investors of record on Monday, May 18th will be given a dividend of 0.28 per share on Tuesday, May 26th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, May 18th.

Global Industrial has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Global Industrial has a payout ratio of 60.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Global Industrial to earn $2.22 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 50.5%.

Global Industrial Price Performance

Shares of NYSE:GIC opened at $32.94 on Wednesday. The business’s 50-day moving average is $32.23 and its 200 day moving average is $30.94. Global Industrial has a 1 year low of $25.18 and a 1 year high of $38.79. The firm has a market capitalization of $1.26 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.03 and a beta of 0.83.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Global Industrial had a net margin of 5.23% and a return on equity of 23.56%. The business had revenue of $350.40 million for the quarter, compared to analyst estimates of $344.13 million. On average, analysts expect that Global Industrial will post 2 EPS for the current year.

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.