Granite Declares Quarterly Dividend

Rhea-AI Summary

Granite Construction Inc. (GVA) declares a quarterly dividend of $0.13 per share, payable on April 15, 2024, to shareholders of record on March 28, 2024.

Financial Analyst

The declaration of a quarterly cash dividend by Granite Construction Incorporated represents a tangible return on investment for shareholders. The specified amount of $0.13 per common share is a key figure that can be used to calculate the dividend yield, which is a financial ratio indicating how much a company pays out in dividends each year relative to its stock price. Investors often view regular dividend payments as a sign of a company's financial health and stability. It is also indicative of the company's confidence in its current cash flow and future earnings.

From a financial analysis perspective, examining the company's payout ratio, which is the proportion of earnings paid out as dividends to shareholders, would be crucial. This ratio helps in assessing whether the dividend payments are sustainable in the long term. A payout ratio that is too high might indicate that the company is not reinvesting enough back into the business, which could hamper future growth. Conversely, a lower payout ratio might suggest that the company has room to increase its dividend in the future or invest in growth opportunities.

Market Research Analyst

When a company like Granite Construction declares a dividend, it can have implications for its stock market performance. Dividends can make a stock more attractive to income-focused investors, potentially increasing demand for the shares. The market's reaction to dividend announcements can also be influenced by how the dividend compares to previous payouts and industry standards. If the declared dividend is higher than previous quarters or above the industry average, it might signal to investors a strong financial position and could lead to a positive market response.

Furthermore, analyzing the historical stock price movement of Granite Construction around past dividend declarations could provide insights into how the market might react to the current announcement. It is also essential to consider the overall economic context, as macroeconomic factors such as interest rate changes can affect investor preference for dividend-paying stocks.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE: GVA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per common share. The dividend is payable on April 15, 2024, to all shareholders of record at the close of business on March 28, 2024.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240311175424/en/

Media

Erin Kuhlman, 831-768-4111

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Investors

Wenjun Xu, 831-761-7861

Source: Granite Construction Incorporated

What is the dividend amount declared by Granite Construction Inc. (GVA)?

Granite Construction Inc. (GVA) declared a quarterly cash dividend of $0.13 per common share.

When will the dividend be payable to shareholders of Granite Construction Inc. (GVA)?

The dividend declared by Granite Construction Inc. (GVA) is payable on April 15, 2024.

Who are eligible to receive the dividend declared by Granite Construction Inc. (GVA)?

Shareholders of record at the close of business on March 28, 2024, are eligible to receive the dividend declared by Granite Construction Inc. (GVA).