Gerdau S.A. (GGB) to Distribute Quarterly Dividend of $0.04 on September 18th

Gerdau S.A. (NYSE:GGB) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Friday, August 21st will be given a dividend of 0.0448 per share by the basic materials company on Friday, September 18th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, August 21st. This is a 24.1% increase from Gerdau’s previous quarterly dividend of $0.04.

Gerdau has increased its dividend payment by an average of 0.2%per year over the last three years. Gerdau has a payout ratio of 39.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gerdau to earn $0.63 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 23.8%.

Gerdau Trading Down 2.8%

Shares of GGB stock opened at $4.67 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.87 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $4.59 and a two-hundred day moving average price of $4.32. Gerdau has a 12-month low of $2.85 and a 12-month high of $5.18. The firm has a market cap of $9.33 billion, a P/E ratio of 20.28 and a beta of 1.48.

Gerdau (NYSE:GGB) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Gerdau had a return on equity of 7.97% and a net margin of 3.37%. Equities analysts anticipate that Gerdau will post 0.53 EPS for the current fiscal year.

Gerdau Company Profile

Gerdau SA is a Brazilian-based steel producer engaged in the manufacture and distribution of long steel products for the construction, industrial and agricultural sectors. Established in 1901, the company operates an integrated network of electric-arc furnaces and rolling mills, producing reinforcement bars, wire rod, merchant bars and structural shapes. Gerdau’s product portfolio also includes specialty long steel, high-yield reinforcement, rail, beams and steel coils, as well as value-added processing services such as cutting, bending and coating.

The company has expanded its footprint beyond Brazil, with significant operations in North America, South America and a presence in select European markets.