Gildan Activewear Inc. (TSE:GIL) Announces Dividend Increase - $0.23 Per Share

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL announced a quarterly dividend on Wednesday, March 12th, TickerTech Dividends reports. Investors of record on Monday, April 7th will be given a dividend of 0.226 per share on Monday, April 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Wednesday, March 12th. This is a 10.2% increase from Gildan Activewear's previous quarterly dividend of $0.21.

Gildan Activewear Price Performance

Gildan Activewear stock traded down C$3.16 during mid-day trading on Thursday, reaching C$66.33. The company had a trading volume of 537,319 shares, compared to its average volume of 362,532. The stock's 50-day simple moving average is C$72.86 and its 200-day simple moving average is C$68.06. The company has a market capitalization of C$7.20 billion, a P/E ratio of 17.79, a P/E/G ratio of 4.55 and a beta of 1.64. The company has a debt-to-equity ratio of 101.26, a current ratio of 2.31 and a quick ratio of 0.87. Gildan Activewear has a 1 year low of C$44.23 and a 1 year high of C$79.11.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last issued its quarterly earnings data on Wednesday, February 19th. The company reported C$0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.82 by C$0.01. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, equities analysts predict that Gildan Activewear will post 4.5460385 EPS for the current year.

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Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GIL shares. UBS Group raised shares of Gildan Activewear from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 10th. National Bankshares raised their price target on Gildan Activewear from C$78.00 to C$83.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, Desjardins upped their price objective on Gildan Activewear from C$82.00 to C$87.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Gildan Activewear presently has an average rating of "Buy" and a consensus target price of C$68.50.

Insider Buying and Selling at Gildan Activewear

In related news, Senior Officer Michael Schroeder sold 4,299 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of C$78.02, for a total value of C$335,428.68. Also, Senior Officer Rhodri Harries sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of C$78.08, for a total transaction of C$7,808,000.00. In the last three months, insiders sold 108,483 shares of company stock worth $8,454,352. Insiders own 2.26% of the company's stock.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.