Global Industrial Company (NYSE:GIC) Declares Quarterly Dividend of $0.28

Key Points

• Global Industrial declared a quarterly dividend of $0.28 per share (annualized $1.12) with an ex‑dividend and record date of May 18 and a payment date of May 26, implying a yield of about 3.4%.
• The company reported Q earnings of $0.39 EPS (vs. $0.41 expected) and revenue of $350.4M (beat $344.1M); its current dividend payout ratio is 60.9%, and analysts forecast $2.22 EPS next year, suggesting a future payout ratio near 50.5% and continued dividend coverage.
• GIC trades around $32.94 with a $1.26B market cap and a P/E of ~17.7; Wall Street’s consensus rating is "Hold" despite some recent upgrades from independent raters to stronger stances.

Global Industrial Company (NYSE:GIC - Get Free Report) announced a quarterly dividend on Tuesday, May 5th. Investors of record on Monday, May 18th will be paid a dividend of 0.28 per share on Tuesday, May 26th. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, May 18th.

Global Industrial has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 9 years. Global Industrial has a dividend payout ratio of 60.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Global Industrial to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 50.5%.

Global Industrial Stock Up 0.0%

Shares of GIC stock opened at $32.94 on Wednesday. The firm has a market capitalization of $1.26 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.03 and a beta of 0.83. Global Industrial has a twelve month low of $25.18 and a twelve month high of $38.79. The stock's fifty day simple moving average is $32.23 and its 200 day simple moving average is $30.94.

Global Industrial (NYSE:GIC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The firm had revenue of $350.40 million for the quarter, compared to the consensus estimate of $344.13 million. Global Industrial had a return on equity of 23.56% and a net margin of 5.23%. As a group, equities research analysts expect that Global Industrial will post 2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GIC has been the topic of a number of research reports. Weiss Ratings upgraded Global Industrial from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday. Wall Street Zen upgraded Global Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, January 31st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Industrial has an average rating of "Hold".

Global Industrial Company Profile

Global Industrial Company NYSE: GIC is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company's product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.

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