Granite Construction Incorporated (NYSE:GVA) Declares Quarterly Dividend of $0.13

Granite Construction Incorporated (NYSE:GVA) announced a quarterly dividend on Thursday, June 4th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.13 per share by the construction company on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, June 30th.

Granite Construction has a payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Granite Construction to earn $6.91 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 7.5%.

Granite Construction Stock Up 1.7%

Shares of GVA stock opened at $141.35 on Friday. The stock has a market cap of $6.18 billion, a P/E ratio of 40.74 and a beta of 1.32. Granite Construction has a 52 week low of $87.72 and a 52 week high of $145.00. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 0.80. The company’s fifty day simple moving average is $129.88 and its two-hundred day simple moving average is $123.52.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.77) by $1.03. The business had revenue of $912.47 million for the quarter, compared to analysts’ expectations of $782.26 million. Granite Construction had a net margin of 3.99% and a return on equity of 24.90%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. Analysts predict that Granite Construction will post 5.13 EPS for the current fiscal year.

About Granite Construction

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.