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 annualized dividend and a yield of 7.16%. The ex-dividend date is Tuesday, December 19th.
Vector Group has a 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. 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%.
Vector Group (VGR) opened at $22.35 on Friday. The firm has a market cap of $3,087.48, a P/E ratio of 34.86 and a beta of 0.45. Vector Group has a 52 week low of $18.70 and a 52 week high of $23.14. The company has a debt-to-equity ratio of -3.97, a quick ratio of 2.29 and a current ratio of 2.61.
Vector Group (NYSE:VGR) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $484.60 million for the quarter, compared to the consensus estimate of $448.00 million. Vector Group’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. equities research analysts predict that Vector Group will post 0.66 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised shares of Vector Group from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Friday, November 10th.
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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.
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