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

Global Industrial (NYSE:GIC) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, May 10th.

Global Industrial has raised its dividend by an average of 12.6% per year over the last three years and has increased its dividend every year for the last 8 years. Global Industrial has a payout ratio of 42.0% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of GIC opened at $34.51 on Thursday. Global Industrial has a one year low of $20.52 and a one year high of $46.97. The company has a market cap of $1.32 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.19 and a beta of 0.92. The firm has a 50 day simple moving average of $43.51 and a two-hundred day simple moving average of $39.96.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $320.10 million during the quarter, compared to the consensus estimate of $313.50 million. Global Industrial had a net margin of 5.34% and a return on equity of 28.85%. On average, analysts expect that Global Industrial will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 380,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 139,800 shares in the company, valued at $5,752,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 66.34% of the company’s stock.

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.