CGI Group, Inc. (NYSE:GIB) Declares Quarterly Dividend of $0.11

Key Points

• CGI Group, Inc. has declared a quarterly dividend of $0.11, with an ex-dividend date of August 15th, and a payment date set for September 19th.
• The company's payout ratio stands at 6.8%, indicating that it can comfortably sustain its dividend based on projected earnings of $6.28 per share next year.
• During recent trading, CGI Group's stock experienced a 0.7% decline, closing at $96.34, while showing a market capitalization of $21.62 billion.

CGI Group, Inc. (NYSE:GIB - Get Free Report) TSE: GIB.A declared a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Investors of record on Friday, August 15th will be paid a dividend of 0.1086 per share by the technology company on Friday, September 19th. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, August 15th. This is a 0.0% increase from CGI Group's previous quarterly dividend of $0.11.

CGI Group has a dividend payout ratio of 6.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect CGI Group to earn $6.28 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 7.0%.

CGI Group Stock Up 0.2%

GIB traded up $0.15 on Monday, reaching $95.63. The company's stock had a trading volume of 22,250 shares, compared to its average volume of 275,234. The stock has a 50 day moving average of $104.29 and a two-hundred day moving average of $106.37. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $21.32 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.76 and a beta of 0.72. CGI Group has a fifty-two week low of $92.85 and a fifty-two week high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.91 earnings per share. As a group, analysts forecast that CGI Group will post 5.79 EPS for the current fiscal year.

Institutional Investors Weigh In On CGI Group

Large investors have recently modified their holdings of the company. SVB Wealth LLC acquired a new stake in shares of CGI Group in the first quarter valued at approximately $25,000. Fifth Third Bancorp boosted its holdings in shares of CGI Group by 239.5% in the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after acquiring an additional 182 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of CGI Group by 292.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company's stock valued at $100,000 after acquiring an additional 749 shares during the period. Versant Capital Management Inc boosted its holdings in shares of CGI Group by 371.7% in the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after acquiring an additional 829 shares during the period. Finally, GeoWealth Management LLC boosted its holdings in shares of CGI Group by 80.4% in the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after acquiring an additional 579 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

About CGI Group

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.