Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Thursday, November 2nd, NASDAQ reports. Shareholders of record on Thursday, November 16th will be paid a dividend of 0.094 per share by the textile maker on Monday, December 11th. This represents a $0.38 annualized dividend and a yield of 1.30%. The ex-dividend date is Wednesday, November 15th.

Gildan Activewear has increased its dividend payment by an average of 20.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Gildan Activewear has a dividend payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gildan Activewear to earn $1.89 per share next year, which means the company should continue to be able to cover its $0.37 annual dividend with an expected future payout ratio of 19.6%.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $716.40 million for the quarter, compared to the consensus estimate of $748.86 million. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.73%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS.

A number of analysts have recently issued reports on the stock. BMO Capital Markets downgraded shares of Gildan Activewear from an “outperform” rating to a “market perform” rating in a report on Friday. Macquarie assumed coverage on shares of Gildan Activewear in a report on Wednesday. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Friday, October 27th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. Gildan Activewear has a consensus rating of “Hold” and an average price target of $35.29.

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About Gildan Activewear

Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.

Dividend History for Gildan Activewear (NYSE:GIL)

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