Vector Group Ltd. (VGR) Declares Quarterly Dividend of $0.40
Vector Group Ltd. (NYSE:VGR) announced a quarterly dividend on Thursday, November 30th, Wall Street Journal reports. Shareholders of record on Wednesday, December 20th will be paid a dividend of 0.40 per share on Thursday, December 28th. This represents a $1.60 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date is Tuesday, December 19th.
Vector Group has a dividend payout ratio of 242.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Vector Group to earn $0.66 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 242.4%.
Shares of Vector Group (VGR) traded down $0.04 during mid-day trading on Thursday, reaching $22.39. 1,219,900 shares of the company’s stock were exchanged, compared to its average volume of 682,975. Vector Group has a twelve month low of $18.70 and a twelve month high of $22.63. The company has a quick ratio of 2.29, a current ratio of 2.61 and a debt-to-equity ratio of -3.97. The company has a market cap of $3,032.06, a P/E ratio of 34.23 and a beta of 0.43.
A number of research analysts have weighed in on the stock. BidaskClub cut shares of Vector Group from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research cut shares of Vector Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th.
COPYRIGHT VIOLATION NOTICE: This news story was published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://www.americanbankingnews.com/2017/11/30/vector-group-ltd-vgr-declares-quarterly-dividend-of-0-40.html.
Vector Group Company Profile
Vector Group Ltd. is a holding company. The Company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc (Vector Tobacco) subsidiaries, and the real estate business through its New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects.
Receive News & Ratings for Vector Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vector Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.