CGI Group, Inc. (NYSE:GIB) Declares C$0.17 Quarterly Dividend

Key Points

• CGI Group declared a quarterly dividend of C$0.17 per share, payable September 18 to shareholders of record on August 14. The annualized dividend is C$0.50, with a reported yield of approximately 0.9%.
• The dividend appears well covered, with a current payout ratio of 7.7%; analysts expect a future payout ratio near 7.0% based on projected earnings.
• In its latest quarterly results, CGI reported EPS of $1.65, matching analyst estimates, while revenue rose 3.3% year over year to $2.99 billion, slightly below expectations.

CGI Group, Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A declared a quarterly dividend on Tuesday, July 28th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.17 per share by the technology company on Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 14th.

CGI Group has a payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CGI Group to earn $7.13 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 7.0%.

CGI Group Price Performance

Shares of GIB stock traded up $3.35 during trading hours on Wednesday, reaching $74.75. 1,631,384 shares of the company were exchanged, compared to its average volume of 495,761. CGI Group has a fifty-two week low of $59.63 and a fifty-two week high of $103.04. The stock's fifty day moving average is $66.32 and its two-hundred day moving average is $72.60. The company has a market cap of $15.81 billion, a price-to-earnings ratio of 13.49 and a beta of 0.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.68.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.65 EPS for the quarter, meeting the consensus estimate of $1.65. CGI Group had a net margin of 10.26% and a return on equity of 18.72%. The business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $3.05 billion. During the same period in the prior year, the firm earned $2.12 earnings per share. CGI Group's revenue was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that CGI Group will post 6.54 earnings per share for the current fiscal year.

About CGI Group

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.

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