Vectren Corporation (VVC) Announces Quarterly Dividend of $0.45
Vectren Corporation (NYSE:VVC) announced a quarterly dividend on Thursday, November 2nd, RTT News reports. Investors of record on Wednesday, November 15th will be given a dividend of 0.45 per share by the utilities provider on Friday, December 1st. This represents a $1.80 dividend on an annualized basis and a yield of 2.64%. This is an increase from Vectren Corporation’s previous quarterly dividend of $0.42.
Vectren Corporation has raised its dividend by an average of 4.4% annually over the last three years and has increased its dividend annually for the last 57 consecutive years. Vectren Corporation has a dividend payout ratio of 64.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vectren Corporation to earn $2.81 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 59.8%.
Vectren Corporation (NYSE:VVC) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $630.70 million during the quarter, compared to the consensus estimate of $565.12 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. Vectren Corporation’s revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS.
In other Vectren Corporation news, Director Derrick Burks bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was purchased at an average price of $65.60 per share, for a total transaction of $65,600.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $65,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.
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Several equities analysts have recently issued reports on VVC shares. Zacks Investment Research upgraded Vectren Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub upgraded Vectren Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Vectren Corporation presently has an average rating of “Buy” and a consensus target price of $65.50.
Vectren Corporation Company Profile
Vectren Corporation (Vectren) is an energy holding company. The Company segregates its operations into groups, including the Utility Group, the Nonutility Group, and Corporate and Other. The Company’s subsidiary, Vectren Utility Holdings, Inc (Utility Holdings or VUHI), serves as the intermediate holding company for three public utilities: Indiana Gas Company, Inc (Indiana Gas), Southern Indiana Gas and Electric Company (SIGECO) and Vectren Energy Delivery of Ohio, Inc (VEDO).
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