Gildan Activewear, Inc. Plans Quarterly Dividend of $0.09 (GIL)

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Thursday, November 2nd, NASDAQ reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Wednesday, November 15th.

Gildan Activewear has raised its dividend by an average of 20.1% annually over the last three years and has raised its dividend every year for the last 4 years. Gildan Activewear has a dividend payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. 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 posted its quarterly earnings data on Thursday, November 2nd. The textile maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $716.40 million during the quarter, compared to analyst estimates of $748.86 million. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.73%. Gildan Activewear’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share.

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A number of equities analysts have commented on the stock. Royal Bank Of Canada downgraded shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 target price for the company. in a report on Tuesday, July 11th. Zacks Investment Research lowered Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Canaccord Genuity set a $32.00 target price on Gildan Activewear and gave the company a “buy” rating in a research report on Friday, July 7th. Finally, BMO Capital Markets restated a “buy” rating and issued a $34.00 price objective on shares of Gildan Activewear in a research report on Friday, October 20th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.29.

Gildan Activewear Company Profile

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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