Global Industrial Company (NYSE:GIC) to Issue Quarterly Dividend of $0.28

Global Industrial Company (NYSE:GIC) announced a quarterly dividend on Tuesday, February 24th. Shareholders of record on Monday, March 9th will be given a dividend of 0.28 per share on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 9th. This is a 7.7% increase from Global Industrial’s previous quarterly dividend of $0.26.

Global Industrial has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 9 years. Global Industrial has a dividend payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Global Industrial to earn $1.66 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 62.7%.

Global Industrial Stock Performance

Shares of NYSE:GIC traded up $3.33 during trading on Wednesday, hitting $34.26. The company’s stock had a trading volume of 71,551 shares, compared to its average volume of 87,558. Global Industrial has a fifty-two week low of $20.79 and a fifty-two week high of $38.79. The business has a 50 day moving average price of $30.95 and a two-hundred day moving average price of $32.28. The company has a market capitalization of $1.32 billion, a PE ratio of 19.61, a P/E/G ratio of 0.98 and a beta of 0.90.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Global Industrial had a return on equity of 22.85% and a net margin of 5.11%.The firm had revenue of $345.60 million during the quarter, compared to analyst estimates of $324.86 million. As a group, equities analysts expect that Global Industrial will post 1.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

GIC has been the subject of several recent research reports. Zacks Research upgraded Global Industrial from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Industrial currently has an average rating of “Hold”.

Global Industrial Company Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.