CGI Group, Inc. (NYSE:GIB) Plans Dividend Increase – C$0.18 Per Share

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) announced a quarterly dividend on Tuesday, November 10th. Stockholders of record on Friday, November 27th will be paid a dividend of C$0.18 per share by the technology company on Friday, December 18th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 27th. This is a 8.8% increase from CGI Group’s previous quarterly dividend of C$0.17.

CGI Group has a payout ratio of 7.4% meaning its dividend is sufficiently covered by earnings. Analysts expect CGI Group to earn $6.95 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 6.9%.

CGI Group Trading Down 1.6%

NYSE:GIB traded down $1.36 during trading hours on Wednesday, hitting $81.15. The stock had a trading volume of 952,058 shares, compared to its average volume of 472,389. The business’s 50 day moving average is $74.21 and its 200-day moving average is $72.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.66 and a current ratio of 0.93. The company has a market cap of $16.80 billion, a price-to-earnings ratio of 13.92 and a beta of 0.42. CGI Group has a one year low of $59.63 and a one year high of $95.20.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, November 11th. The technology company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.01. CGI Group had a return on equity of 18.83% and a net margin of 10.54%. Sell-side analysts anticipate that CGI Group will post 6.36 EPS for the current fiscal year.

CGI Group Company Profile

CGI Inc., formerly known as CGI Group, is a Canadian information technology and business consulting company founded in 1976 in Montréal. It works with businesses and government organizations to plan, build and operate technology and business systems. The company provides IT and business consulting, systems integration, application development and maintenance, managed IT services, and business process services. Its work also covers areas such as cloud computing, cybersecurity, data analytics and digital transformation.