Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Raises Dividend to $0.14 Per Share

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Wednesday, November 19th. Stockholders of record on Monday, December 1st will be paid a dividend of 0.1406 per share by the bank on Monday, December 8th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, December 1st. This is a 4.3% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.13.

Grupo Financiero Galicia has raised its dividend by an average of 0.5%per year over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 19.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Grupo Financiero Galicia to earn $7.26 per share next year, which means the company should continue to be able to cover its $1.61 annual dividend with an expected future payout ratio of 22.2%.

Grupo Financiero Galicia Trading Down 2.1%

Shares of Grupo Financiero Galicia stock traded down $1.04 during mid-day trading on Thursday, hitting $48.67. 1,019,595 shares of the stock were exchanged, compared to its average volume of 1,889,885. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 25.60 and a beta of 1.58. The company has a 50-day simple moving average of $39.46 and a 200 day simple moving average of $47.15. Grupo Financiero Galicia has a twelve month low of $25.89 and a twelve month high of $74.00.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.