Gerdau S.A. (NYSE:GGB) to Issue Dividend of $0.02

Gerdau S.A. (NYSE:GGB - Get Free Report) announced a dividend on Tuesday, May 6th, investing.com reports. Stockholders of record on Tuesday, May 13th will be given a dividend of 0.0188 per share by the basic materials company on Tuesday, May 27th. This represents a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, May 12th. This is a 373.8% increase from Gerdau's previous dividend of $0.00396825396825397.

Gerdau has decreased its dividend payment by an average of 20.6% per year over the last three years. Gerdau has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Gerdau to earn $0.47 per share next year, which means the company should continue to be able to cover its $0.07 annual dividend with an expected future payout ratio of 14.9%.

Gerdau Price Performance

Shares of GGB opened at $2.55 on Tuesday. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The company's fifty day simple moving average is $2.74 and its 200 day simple moving average is $2.98. Gerdau has a 1-year low of $2.27 and a 1-year high of $4.04. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 5.93 and a beta of 1.43.

Gerdau (NYSE:GGB - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. On average, research analysts forecast that Gerdau will post 0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on GGB. Bank of America reaffirmed a "neutral" rating on shares of Gerdau in a research report on Monday, April 7th. UBS Group reduced their price objective on shares of Gerdau from $3.30 to $2.90 and set a "neutral" rating for the company in a research report on Wednesday, April 30th.

Gerdau Company Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.