Gildan Activewear, Inc. (GIL) Announces Quarterly Dividend of $0.09
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.
ILLEGAL ACTIVITY NOTICE: “Gildan Activewear, Inc. (GIL) Announces Quarterly Dividend of $0.09” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/11/03/gildan-activewear-inc-gil-announces-quarterly-dividend-of-0-09.html.
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.
Receive News & Ratings for Gildan Activewear Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear Inc. and related companies with MarketBeat.com's FREE daily email newsletter.