Global Industrial (NYSE:GIC) Plans $0.25 Quarterly Dividend

Global Industrial (NYSE:GIC) declared a quarterly dividend on Tuesday, April 30th, 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 yield of 2.85%. The ex-dividend date is Friday, May 10th.

Global Industrial has increased its dividend by an average of 12.6% annually over the last three years and has raised its dividend every year for the last 8 years. Global Industrial has a dividend payout ratio of 43.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Global Industrial to earn $2.29 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 43.7%.

Global Industrial Trading Up 1.1 %

NYSE:GIC opened at $35.11 on Thursday. Global Industrial has a 12-month low of $23.08 and a 12-month high of $46.97. The stock has a 50-day moving average price of $42.37 and a 200 day moving average price of $39.97. The stock has a market capitalization of $1.34 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.11 and a beta of 0.92.

Global Industrial (NYSE:GIC) last released its earnings results on Thursday, February 29th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. Global Industrial had a return on equity of 28.39% and a net margin of 5.34%. The firm had revenue of $320.10 million during the quarter, compared to analysts’ expectations of $313.50 million. On average, research analysts predict that Global Industrial will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Vice Chairman Bruce Leeds sold 380,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was 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 of the company’s stock, valued at $5,752,770. The sale was disclosed in a filing with the SEC, which is available through this link. 65.30% of the stock is currently owned by company insiders.

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.