Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Declares Dividend Increase - $0.16 Per Share

Key Points

• Dividend increase: Grupo Financiero Galicia raised its monthly dividend to $0.1639 per share (a 2.5% bump from $0.16), implying about a $1.96 annual payout and a ~4.9% yield; the record/ex-dividend date is May 4 and the payment is due May 11.
• Dividend coverage: The payout is currently well covered with a 23.6% payout ratio, and analysts forecast earnings that would support a future payout ratio near 53.6% (analyst next-year EPS estimate ~$3.66).
• Market reaction and fundamentals: Shares fell roughly 2.9% to $40.15 on higher volume; the bank reported a quarterly loss of $0.36 per share on $666.9M revenue, trades at a ~20.3 PE, and has a $6.45B market cap.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) announced a monthly dividend on Friday, April 24th. Investors of record on Monday, May 4th will be given a dividend of 0.1639 per share by the bank on Monday, May 11th. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date is Monday, May 4th. This is a 2.5% increase from Grupo Financiero Galicia's previous monthly dividend of $0.16.

Grupo Financiero Galicia has increased its dividend payment by an average of 1.0%annually over the last three years. Grupo Financiero Galicia has a payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Grupo Financiero Galicia to earn $3.66 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 53.6%.

Grupo Financiero Galicia Stock Down 2.9%

GGAL traded down $1.19 during trading on Friday, hitting $40.15. The company had a trading volume of 1,563,247 shares, compared to its average volume of 947,406. The company has a market cap of $6.45 billion, a PE ratio of 20.28 and a beta of 1.27. The business has a 50-day moving average of $45.25 and a 200-day moving average of $48.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 1.16. Grupo Financiero Galicia has a 1-year low of $25.89 and a 1-year high of $65.48.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The bank reported ($0.36) earnings per share (EPS) for the quarter. The company had revenue of $666.89 million during the quarter. Grupo Financiero Galicia had a net margin of 7.13% and a return on equity of 18.96%. As a group, analysts forecast that Grupo Financiero Galicia will post 1.68 earnings per share for the current year.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country's largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.

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