GLOBAL INDUSTRIAL Co 8-K, filed Dec 7, 2021
GLOBAL INDUSTRIAL Co (GIC)
8-K
2021-12-07
For: 2021-12-07
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Added on
April 04, 2026
About this 8-K
GLOBAL INDUSTRIAL Co filed this 8-K on December 7, 2021.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 7, 2021
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Registrant’s telephone number, including area code: (516) 608-7000
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions ( see General Instruction A.2 below):
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01 | Other Events | ||||
On December 7, 2021, Global Industrial Company (the "Company") issued a press release announcing a declaration of a special
dividend of $1.00 per share payable to common stock shareholders of record at the close of business on December 17, 2021,
payable on December 27, 2021.
The information in this Current Report on Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of
that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, regardless of any general incorporation language in such filing.
| Item 9.01. | Financial Statements and Exhibits. | ||||
The following exhibit relating to Item 8.01 shall be deemed to be furnished, and not filed:
| Exhibit Number | Description | |||||||
| 99.1 | Press Release of Global Industrial Company, dated December 7, 2021. | |||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL). | |||||||
Exhibit Index
| Press Release of Global Industrial Company, dated December 7, 2021. | |||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL). | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GLOBAL INDUSTRIAL COMPANY | ||||||||
| Date:December 7, 2021 | ||||||||
| By: | /s/Thomas Clark | |||||||
| Name: Thomas Clark | ||||||||
| Title: Senior Vice President and Chief Financial Officer | ||||||||
Exhibit 99.1
Global Industrial Declares $1.00 Per Share Special Dividend
Port Washington, NY, 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 Smargiassi/ Ryan Golden
The Plunkett Group
212-739-6729
mike@theplunkettgroup.com/ ryan@theplunkettgroup.com