Globe Life Inc. (NYSE:GL) to Issue Quarterly Dividend of $0.33

by · The Markets Daily

Globe Life Inc. (NYSE:GL – Get Free Report) announced a quarterly dividend on Thursday, November 5th. Investors of record on Friday, January 8th will be paid a dividend of $0.33 per share on Monday, February 1st. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, January 8th.

Globe Life has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 20 years. Globe Life has a dividend payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Globe Life to earn $16.39 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 8.1%.

Globe Life Trading Down 0.6%

Globe Life stock opened at $158.33 on Friday. The company has a 50 day moving average price of $167.23 and a 200 day moving average price of $160.00. Globe Life has a 52 week low of $129.21 and a 52 week high of $191.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 10.54 and a beta of 0.47.

Globe Life (NYSE:GL – Get Free Report) last announced its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.90 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.56 billion. Globe Life had a net margin of 18.89% and a return on equity of 19.95%. Globe Life’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $4.81 earnings per share. Research analysts forecast that Globe Life will post 15.48 EPS for the current year.

Globe Life announced that its Board of Directors has approved a stock buyback program on Monday, August 10th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 17.7% of its shares through open market purchases. Share repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Globe Life Company Profile

(Get Free Report)

Globe Life Inc (NYSE: GL) is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.

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