Global Industrial (NYSE:GIC) Plans Dividend Increase – $0.26 Per Share

Global Industrial (NYSE:GIC) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.26 per share on Monday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Global Industrial’s previous quarterly dividend of $0.25.

Global Industrial has a dividend payout ratio of 49.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Global Industrial to earn $1.66 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 60.2%.

Global Industrial Stock Down 0.7 %

Global Industrial stock traded down $0.16 during midday trading on Wednesday, hitting $24.13. The company’s stock had a trading volume of 113,445 shares, compared to its average volume of 112,894. Global Industrial has a 12 month low of $23.09 and a 12 month high of $46.97. The company has a market capitalization of $922.51 million, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. The stock’s 50-day moving average price is $24.63 and its 200-day moving average price is $28.74.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $302.30 million for the quarter, compared to analysts’ expectations of $306.07 million. Global Industrial had a return on equity of 24.53% and a net margin of 4.92%. As a group, equities analysts anticipate that Global Industrial will post 1.59 EPS for the current year.

About Global Industrial

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.