Granite Construction Incorporated (NYSE:GVA) to Issue $0.13 Quarterly Dividend

Key Points

• Granite Construction Incorporated declared a quarterly dividend of $0.13 per share, with a record date of September 30th and a payment date of October 15th, reflecting an annualized dividend yield of 0.5%.
• The company's payout ratio is 8.6%, indicating strong earnings coverage for its dividend, with analysts projecting earnings per share of $6.97 for the upcoming year.
• Granite Construction's stock rose by 1.1% to $109.65, with 424,258 shares traded, showing solid trading activity compared to its average volume of 610,953 shares.

Granite Construction Incorporated (NYSE:GVA - Get Free Report) announced a quarterly dividend on Thursday, September 11th, RTT News reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.13 per share by the construction company on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 30th.

Granite Construction has a payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Granite Construction to earn $6.97 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 7.5%.

Granite Construction Trading Down 0.8%

Shares of Granite Construction stock traded down $0.91 on Tuesday, reaching $108.46. The company had a trading volume of 780,890 shares, compared to its average volume of 398,875. The firm's 50 day moving average price is $102.43 and its two-hundred day moving average price is $89.57. The firm has a market cap of $4.75 billion, a PE ratio of 35.44 and a beta of 1.41. Granite Construction has a 52-week low of $69.08 and a 52-week high of $112.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.57.

Granite Construction (NYSE:GVA - Get Free Report) last announced its earnings results on Thursday, August 7th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.16. Granite Construction had a net margin of 3.89% and a return on equity of 21.64%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm earned $1.73 EPS. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. Granite Construction has set its FY 2025 guidance at EPS. Sell-side analysts predict that Granite Construction will post 5.49 earnings per share for the current fiscal year.

Granite Construction Company Profile

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.