Vector Group Ltd (VGR) to Issue Quarterly Dividend of $0.40 on September 27th
Vector Group Ltd (NYSE:VGR) declared a quarterly dividend on Thursday, August 30th, Wall Street Journal reports. Shareholders of record on Tuesday, September 18th will be paid a dividend of 0.40 per share on Thursday, September 27th. This represents a $1.60 dividend on an annualized basis and a yield of 10.10%. The ex-dividend date is Monday, September 17th.
Vector Group has a dividend payout ratio of 372.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Vector Group to earn $0.72 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 222.2%.
Shares of NYSE VGR opened at $15.84 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of -2.54. Vector Group has a one year low of $15.30 and a one year high of $23.14. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 33.35 and a beta of 0.28.
Several analysts have recently issued reports on VGR shares. Zacks Investment Research lowered Vector Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 29th. ValuEngine lowered Vector Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th.
About Vector Group
Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates through Tobacco, E-Cigarettes, and Real Estate segments. The company produces cigarettes in 109 combinations under the PYRAMID, EAGLE 20's, GRAND PRIX, LIGGETT SELECT, and EVE brand names, as well as USA and various partner brands, and private label brands.
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