Gear Energy Ltd. (TSE:GXE) Announces $0.01 Monthly Dividend

Gear Energy Ltd. (TSE:GXE) announced a monthly dividend on Wednesday, October 2nd, Zacks reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 0.005 per share on Thursday, October 31st. This represents a $0.06 dividend on an annualized basis and a yield of 10.17%. The ex-dividend date is Tuesday, October 15th.

Gear Energy Stock Performance

GXE opened at C$0.59 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26. Gear Energy has a 12-month low of C$0.57 and a 12-month high of C$0.89. The company has a market cap of C$155.51 million, a price-to-earnings ratio of 11.80 and a beta of 3.56. The company’s 50 day moving average is C$0.65 and its 200 day moving average is C$0.68.

Gear Energy (TSE:GXE) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.04 EPS for the quarter, hitting the consensus estimate of C$0.04. Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. The firm had revenue of C$40.76 million for the quarter, compared to the consensus estimate of C$40.20 million. On average, equities research analysts predict that Gear Energy will post 0.1398601 EPS for the current year.

Insider Activity at Gear Energy

In related news, Senior Officer Bryan Dozzi sold 100,000 shares of Gear Energy stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of C$0.71, for a total transaction of C$71,000.00. 7.57% of the stock is owned by corporate 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.