Global Industrial Declares $1.00 Per Share Special Dividend
12/07/2021 - 08:00 AM
PORT WASHINGTON, NY / ACCESSWIRE / December 7, 2021 / Global Industrial Company (NYSE:GIC), a value-added national distributor of industrial products and MRO supplies, today announced that its Board of Directors has declared a special cash dividend of $1.00 per share to shareholders of the company's common stock. The special dividend will be payable on December 27, 2021 to shareholders of record as of the close of business on December 17, 2021, and we expect that it will be treated as an ordinary dividend for income tax reporting purposes.
Richard Leeds, Executive Chairman of Global Industrial Company, said, "With our strong cash generation and balance sheet we are pleased to announce this special dividend. Including today's declared dividend, we will have paid more than $580 million in dividends to shareholders since 2017, and remain well-positioned to continue to invest strategically in the business to support our future growth."
About Global Industrial Company Global Industrial Company (NYSE:GIC), through its operating subsidiaries, is a value-added industrial distributor. For more than 70 years, Global Industrial has gone the extra mile for its customers, and offers more than a million industrial and MRO products, including its own Global Industrial exclusive brands. With extensive product knowledge and a solutions-based approach, Global Industrial helps customers solve problems and be more successful. At Global Industrial, "We can supply that®."
Forward-Looking Statements This press release contains forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Additional written or oral forward-looking statements may be made by Global Industrial Company, from time to time in filings with the Securities and Exchange Commission or otherwise. Any such statements that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management's estimates, assumptions and projections. These statements are made as of the date hereof, and are not guarantees of future performance. The Company assumes no obligation to update any of the foregoing or any other forward-looking statements as a result of new information or new or future developments, except as otherwise required by law.
Investor/Media Contact: mike@theplunkettgroup.com / ryan@theplunkettgroup.com
SOURCE: Global Industrial Company
https://www.accesswire.com/676238/Global-Industrial-Declares-100-Per-Share-Special-Dividend
GIC Rankings
#2102 Ranked by Stock Gains
GIC Stock Data
Industry
Household Appliance Stores
Sector
Retail Trade
About GIC
for over 60 years global industrial has been an industry leader providing private label and brand name industrial equipment and supplies to businesses throughout north america. we are constantly increasing our product offerings to meet the diverse and changing needs of our customers. our customers include small to large corporations, institutions and government agencies as well as consumers. about global industrial (www.globalindustrial.com) global equipment company (d/b/a global industrial) (www.globalindustrial.com) is a subsidiary of systemax inc. global carries over 1,000,000 industrial, material handling and business products for fortune 1000 companies, small businesses, institutions and government agencies. in addition to our product offerings, our customers enjoy our powerful suite of account management tools has helped dramatically increase operational efficiencies with functionality to export purchase reports, create spending caps, manage multiple payments and shopping lis
