Granite Construction Incorporated (GVA) to Issue Quarterly Dividend of $0.13 on July 15th

Granite Construction Incorporated (NYSE:GVA) declared a quarterly dividend on Thursday, June 4th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.13 per share by the construction company on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, June 30th.

Granite Construction has a dividend payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Granite Construction to earn $6.91 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 7.5%.

Granite Construction Stock Performance

GVA opened at $141.40 on Friday. The business’s 50 day moving average is $130.28 and its 200-day moving average is $123.65. The stock has a market cap of $6.19 billion, a PE ratio of 40.75 and a beta of 1.32. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 0.80. Granite Construction has a twelve month low of $87.72 and a twelve month high of $145.00.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $1.03. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The company had revenue of $912.47 million for the quarter, compared to analysts’ expectations of $782.26 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. On average, analysts predict that Granite Construction will post 5.13 earnings per share for the current year.

About Granite Construction

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.