Gear Energy Ltd. (TSE:GXE) to Issue Monthly Dividend of $0.01

Gear Energy Ltd. (TSE:GXE) announced a monthly dividend on Friday, September 13th, Zacks reports. Investors of record on Friday, September 27th will be paid a dividend of 0.005 per share on Friday, September 27th. This represents a $0.06 annualized dividend and a dividend yield of 10.17%. The ex-dividend date of this dividend is Friday, September 13th.

Gear Energy Price Performance

Shares of GXE stock opened at C$0.59 on Thursday. The business has a fifty day simple moving average of C$0.68 and a 200 day simple moving average of C$0.69. The company has a market cap of C$155.51 million, a P/E ratio of 11.80 and a beta of 3.56. Gear Energy has a twelve month low of C$0.58 and a twelve month high of C$0.91. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 6.26.

Gear Energy (TSE:GXE) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.04. Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. On average, sell-side analysts forecast that Gear Energy will post 0.1399549 EPS for the current fiscal year.

Insider Buying and Selling at Gear Energy

In other news, Senior Officer Bryan Dozzi sold 100,000 shares of Gear Energy stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of C$0.71, for a total value of C$71,000.00. 7.57% of the stock is currently owned by company insiders.

Gear Energy Company Profile

Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.