Global Industrial (GIC) To Go Ex-Dividend on May 10th

Global Industrial (NYSE:GIC) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Investors of record on Monday, May 13th will be given 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 2.90%. The ex-dividend date of this dividend 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 annually for the last 8 consecutive years. Global Industrial has a payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Research 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

NYSE GIC opened at $34.51 on Thursday. The firm has a market cap of $1.32 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The stock’s 50 day simple moving average is $43.51 and its 200 day simple moving average is $39.96. Global Industrial has a one year low of $20.52 and a one year high of $46.97.

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

Insider Buying and Selling at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 380,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.15, for a total value of $15,637,000.00. Following the transaction, the insider now directly owns 139,800 shares in the company, valued at approximately $5,752,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.