Gildan Activewear, Inc. (NYSE:GIL) Declares $0.23 Quarterly Dividend

Key Points

• Gildan Activewear declared a quarterly dividend of $0.23 per share, with an ex-dividend date set for August 21st.
• The company's recent earnings report revealed $0.97 earnings per share, surpassing analysts' expectations and showing a revenue increase of 6.5% year-over-year.
• Gildan Activewear's stock is currently trading at $51.13, reflecting a 1.2% increase during midday trading, with a market capitalization of $7.66 billion.

Gildan Activewear, Inc. (NYSE:GIL - Get Free Report) TSE: GIL announced a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Stockholders of record on Thursday, August 21st will be paid a dividend of 0.226 per share by the textile maker on Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, August 21st.

Gildan Activewear has a payout ratio of 23.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gildan Activewear to earn $3.96 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 22.7%.

Gildan Activewear Trading Up 1.2%

Shares of NYSE GIL traded up $0.62 during midday trading on Friday, reaching $51.13. 781,511 shares of the stock were exchanged, compared to its average volume of 647,714. The company has a market capitalization of $7.66 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.66 and a beta of 1.19. Gildan Activewear has a 52-week low of $37.16 and a 52-week high of $55.39. The company has a current ratio of 3.91, a quick ratio of 1.59 and a debt-to-equity ratio of 1.35. The stock has a 50 day moving average price of $49.44 and a 200-day moving average price of $48.25.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The firm had revenue of $918.50 million during the quarter, compared to the consensus estimate of $908.41 million. During the same period in the previous year, the firm earned $0.74 earnings per share. Gildan Activewear's revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.

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