Gerdau S.A. (NYSE:GGB) Increases Dividend to $0.05 Per Share

Gerdau S.A. (NYSE:GGB) announced a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Thursday, November 21st will be given a dividend of 0.0528 per share by the basic materials company on Monday, December 23rd. This represents a $0.21 annualized dividend and a dividend yield of 6.17%. The ex-dividend date is Thursday, November 21st. This is an increase from Gerdau’s previous quarterly dividend of $0.00396825396825397.

Gerdau has increased its dividend by an average of 58.3% annually over the last three years. Gerdau has a dividend payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gerdau to earn $0.57 per share next year, which means the company should continue to be able to cover its $0.21 annual dividend with an expected future payout ratio of 36.8%.

Gerdau Stock Performance

Shares of Gerdau stock opened at $3.43 on Wednesday. The firm’s fifty day simple moving average is $3.33 and its 200-day simple moving average is $3.34. Gerdau has a 12 month low of $2.92 and a 12 month high of $4.10. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 7.45 and a beta of 1.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53.

About Gerdau

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.