Global Industrial (NYSE:GIC) to Issue $0.25 Quarterly Dividend

Global Industrial (NYSE:GIC - Get Free Report) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Investors of record on Monday, May 13th will be paid a dividend of 0.25 per share on Monday, May 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, May 10th.

Global Industrial has increased its dividend by an average of 12.6% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Global Industrial has a payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Global Industrial to earn $2.38 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 42.0%.

Global Industrial Trading Down 10.4 %

Shares of Global Industrial stock traded down $4.00 during mid-day trading on Wednesday, reaching $34.51. 224,666 shares of the stock were exchanged, compared to its average volume of 88,238. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88. The firm has a 50-day simple moving average of $43.51 and a 200 day simple moving average of $39.96. Global Industrial has a fifty-two week low of $20.52 and a fifty-two week high of $46.97.

Global Industrial (NYSE:GIC - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.40. The business had revenue of $320.10 million during the quarter, compared to analysts' expectations of $313.50 million. Global Industrial had a net margin of 5.55% and a return on equity of 29.76%. On average, research analysts predict that Global Industrial will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Global Industrial news, Vice Chairman Bruce Leeds sold 380,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.15, for a total transaction of $15,637,000.00. Following the sale, the insider now owns 139,800 shares of the company's stock, valued at approximately $5,752,770. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 66.34% of the company's stock.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.