Gildan Activewear (GIL) Declares $0.19 Dividend

Gildan Activewear said on May 3, 2023 that its board of directors declared a regular quarterly dividend of $0.19 per share ($0.74 annualized). Previously, the company paid $0.19 per share.

Shares must be purchased before the ex-div date of May 23, 2023 to qualify for the dividend. Shareholders of record as of May 24, 2023 will receive the payment on June 19, 2023.

At the current share price of $29.23 / share, the stock's dividend yield is 2.55%.

Additionally, the company's dividend payout ratio is 0.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 420 funds or institutions reporting positions in Gildan Activewear. This is an increase of 18 owner(s) or 4.48% in the last quarter. Average portfolio weight of all funds dedicated to GIL is 0.29%, a decrease of 19.89%. Total shares owned by institutions increased in the last three months by 1.02% to 153,960K shares. The put/call ratio of GIL is 1.44, indicating a bearish outlook.

Analyst Price Forecast Suggests 4.47% Downside

As of April 24, 2023, the average one-year price target for Gildan Activewear is 27.92. The forecasts range from a low of 23.11 to a high of $33.33. The average price target represents a decrease of 4.47% from its latest reported closing price of 29.23.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Gildan Activewear is 3,364MM. The projected annual non-GAAP EPS is 3.16.

What are Other Shareholders Doing?

Jarislowsky, Fraser holds 13,476K shares representing 7.50% ownership of the company. In it's prior filing, the firm reported owning 13,883K shares, representing a decrease of 3.02%. The firm decreased its portfolio allocation in GIL by 11.84% over the last quarter.

Pzena Investment Management holds 11,515K shares representing 6.40% ownership of the company. In it's prior filing, the firm reported owning 12,159K shares, representing a decrease of 5.59%. The firm decreased its portfolio allocation in GIL by 18.24% over the last quarter.

Cooke & Bieler holds 9,864K shares representing 5.49% ownership of the company. In it's prior filing, the firm reported owning 9,593K shares, representing an increase of 2.75%. The firm decreased its portfolio allocation in GIL by 99.91% over the last quarter.

Janus Henderson Group holds 7,168K shares representing 3.99% ownership of the company. In it's prior filing, the firm reported owning 7,140K shares, representing an increase of 0.39%. The firm decreased its portfolio allocation in GIL by 67.50% over the last quarter.

VWNDX - Vanguard Windsor Fund Investor Shares holds 6,140K shares representing 3.41% ownership of the company. No change in the last quarter.

Gildan Activewear Background Information
(This description is provided by the company.)

Gildan is a leading manufacturer of everyday basic apparel which markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands, including Gildan®, American Apparel®, Comfort Colors®, Gildan® Hammer™, Prim + Preux®, GoldToe®, Anvil® by Gildan®, Alstyle®, Secret®, Silks®, Kushyfoot®, Secret Silky®, Therapy Plus®, Peds® and MediPeds®, and under the Under Armour® brand through a sock licensing agreement providing exclusive distribution rights in the United States and Canada. Our product offering includes activewear, underwear, socks, hosiery, and legwear products sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms, and to global lifestyle brand companies. Gildan owns and operates vertically-integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour and environmental practices throughout its supply chain in accordance with its comprehensive Genuine Responsibility® program embedded in the Company's long-term business strategy.

This story originally appeared on Fintel.