Vector Group Ltd (NYSE:VGR) declared a quarterly dividend on Tuesday, May 28th, Zacks reports. Investors of record on Tuesday, June 18th will be paid a dividend of 0.40 per share on Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 15.73%. The ex-dividend date of this dividend is Monday, June 17th.
Vector Group has a payout ratio of 390.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Vector Group to earn $0.34 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 470.6%.
NYSE VGR traded down $0.23 during trading hours on Wednesday, hitting $10.17. The company had a trading volume of 23,243 shares, compared to its average volume of 1,117,008. Vector Group has a fifty-two week low of $8.62 and a fifty-two week high of $20.08. The firm has a market capitalization of $1.44 billion, a PE ratio of 17.50 and a beta of 0.66.
Vector Group (NYSE:VGR) last issued its earnings results on Tuesday, May 7th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.07). Vector Group had a negative return on equity of 18.17% and a net margin of 3.54%. The company had revenue of $420.90 million during the quarter, compared to analyst estimates of $437.00 million. During the same period in the prior year, the business earned $0.04 earnings per share. Vector Group’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Vector Group will post 0.37 earnings per share for the current year.
Several equities research analysts have weighed in on the company. Zacks Investment Research lowered Vector Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 16th. Oppenheimer reaffirmed a “hold” rating on shares of Vector Group in a research report on Thursday, February 28th.
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About Vector Group
Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes in 109 combinations under the Pyramid, EAGLE 20's, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.
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