CGI Group, Inc. (NYSE:GIB) to Issue 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 given a dividend of 0.1086 per share by the technology company on Friday, September 19th. This represents a c) annualized dividend 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 payout ratio of 6.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.7%

CGI Group stock traded down $0.73 during midday trading on Thursday, hitting $96.34. 444,890 shares of the stock were exchanged, compared to its average volume of 276,455. The company has a fifty day simple moving average of $104.72 and a two-hundred day simple moving average of $106.56. CGI Group has a 52 week low of $92.85 and a 52 week high of $122.79. The stock has a market capitalization of $21.62 billion, a PE ratio of 17.55, a P/E/G ratio of 1.85 and a beta of 0.76. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.01. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm earned $1.91 EPS. CGI Group's quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that CGI Group will post 5.79 EPS for the current fiscal year.

CGI Group Company Profile

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.

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