Global Industrial (GIC) Declares $0.20 Dividend
Global Industrial said on October 31, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of November 10, 2023 to qualify for the dividend. Shareholders of record as of November 13, 2023 will receive the payment on November 20, 2023.
At the current share price of $34.20 / share, the stock's dividend yield is 2.34%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.23%, the lowest has been 1.27%, and the highest has been 3.78%. The standard deviation of yields is 0.52 (n=235).
The current dividend yield is 0.21 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.44. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.43%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 282 funds or institutions reporting positions in Global Industrial. This is a decrease of 7 owner(s) or 2.42% in the last quarter. Average portfolio weight of all funds dedicated to GIC is 0.10%, a decrease of 0.76%. Total shares owned by institutions increased in the last three months by 1.32% to 13,767K shares. 
The put/call ratio of GIC is 0.15, indicating a bullish outlook.
Analyst Price Forecast Suggests 28.25% Upside
As of November 1, 2023, the average one-year price target for Global Industrial is 43.86. The forecasts range from a low of 43.43 to a high of $45.15. The average price target represents an increase of 28.25% from its latest reported closing price of 34.20.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Global Industrial is 1,171MM, a decrease of 3.60%. The projected annual non-GAAP EPS is 2.05.
What are Other Shareholders Doing?
Mawer Investment Management holds 1,917K shares representing 5.04% ownership of the company. In it's prior filing, the firm reported owning 1,794K shares, representing an increase of 6.37%. The firm increased its portfolio allocation in GIC by 5.94% over the last quarter.
Prescott General Partners holds 1,071K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 1,129K shares, representing a decrease of 5.38%. The firm decreased its portfolio allocation in GIC by 23.81% over the last quarter.
Grandeur Peak Global Advisors holds 931K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 810K shares, representing an increase of 12.97%. The firm increased its portfolio allocation in GIC by 32.88% over the last quarter.
King Luther Capital Management holds 459K shares representing 1.21% ownership of the company. In it's prior filing, the firm reported owning 558K shares, representing a decrease of 21.35%. The firm decreased its portfolio allocation in GIC by 19.83% over the last quarter.
Renaissance Technologies holds 351K shares representing 0.92% ownership of the company. In it's prior filing, the firm reported owning 354K shares, representing a decrease of 0.71%. The firm increased its portfolio allocation in GIC by 11.57% over the last quarter.
Global Industrial Background Information
(This description is provided by the company.)
Global Industrial Company, through its operating subsidiaries, is a value-added industrial distributor. For more than 70 years Global Industrial has gone the extra mile for its customers, and offers more than a million industrial and MRO products, including its own Global Industrial exclusive brands. With extensive product knowledge and a solutions-based approach, Global Industrial helps customers solve problems and be more successful.
Additional reading:
- GLOBAL INDUSTRIAL COMPANY REPORTS THIRD QUARTER 2023 FINANCIAL RESULTS Sales of $354.6 Million, Increase 18.8% Operating Income of $28.2 Million; Operating Margin 8.0% Board Declares $0.20 Dividend
- GLOBAL INDUSTRIAL COMPANY REPORTS SECOND QUARTER 2023 FINANCIAL RESULTS -Sales of $325.8 Million, Increase 2.3%- -Operating Income of $29.1 Million; Operating Margin 8.9%- -Board Declares $0.20 Dividend-
- SECURITIES PURCHASE AGREEMENT Dated as of May 19, 2023 by and among GIH HOLDINGS INC., AS THE PURCHASER, INDOFF HOLDINGS, INC., AS THE SELLER JOHN SPRECK ROSS, AS TRUSTEE OF THE TRUST AGREEMENT OF JOHN SPRECK ROSS DATED 7/31/75 JOHN S. ROSS, JR., LAU
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