Gear Energy Ltd. (TSE:GXE) Plans $0.01 Monthly Dividend

Gear Energy Ltd. (TSE:GXE) declared a monthly dividend on Friday, August 30th, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.005 per share on Friday, September 27th. This represents a $0.06 annualized dividend and a yield of 10.17%. The ex-dividend date is Friday, September 13th.

Gear Energy Price Performance

Shares of Gear Energy stock traded down C$0.01 during midday trading on Wednesday, hitting C$0.59. 649,693 shares of the company traded hands, compared to its average volume of 392,143. The stock has a market cap of C$155.51 million, a price-to-earnings ratio of 12.00 and a beta of 3.56. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.56 and a current ratio of 0.95. The firm’s fifty day moving average price is C$0.69 and its 200-day moving average price is C$0.69. Gear Energy has a 12 month low of C$0.58 and a 12 month high of C$0.91.

Gear Energy (TSE:GXE) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.04. Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. As a group, sell-side analysts forecast that Gear Energy will post 0.1399549 earnings per share for the current year.

Insider Transactions at Gear Energy

In other news, Senior Officer Bryan Dozzi sold 100,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of C$0.71, for a total value of C$71,000.00. Company insiders own 7.57% of the company’s stock.

About Gear Energy

Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.