Climb Global Solutions, Inc. (NASDAQ:CLMB) to Issue Quarterly Dividend of $0.17

Climb Global Solutions, Inc. (NASDAQ:CLMB) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Monday, November 11th will be paid a dividend of 0.17 per share on Friday, November 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Friday, November 8th.

Climb Global Solutions has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Climb Global Solutions to earn $3.59 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 18.9%.

Climb Global Solutions Stock Up 11.8 %

NASDAQ:CLMB opened at $122.42 on Thursday. Climb Global Solutions has a 12-month low of $40.63 and a 12-month high of $122.65. The firm has a market capitalization of $564.36 million, a PE ratio of 33.18, a price-to-earnings-growth ratio of 2.99 and a beta of 1.06. The firm has a 50-day moving average price of $99.43 and a 200 day moving average price of $76.96.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.35. Climb Global Solutions had a net margin of 4.11% and a return on equity of 23.63%. The firm had revenue of $92.08 million during the quarter, compared to analyst estimates of $97.27 million. On average, research analysts expect that Climb Global Solutions will post 3.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and issued a $90.00 price target on shares of Climb Global Solutions in a research report on Thursday, October 10th.

Climb Global Solutions Company Profile

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.