Verso Corp (NYSE:VRS) Plans Quarterly Dividend of $0.10
Verso Corp (NYSE:VRS) announced a quarterly dividend on Friday, August 7th, Wall Street Journal reports. Shareholders of record on Friday, September 18th will be given a dividend of 0.10 per share by the basic materials company on Monday, September 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, September 17th.
Verso has a dividend payout ratio of -25.3% 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 Verso to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 80.0%.
VRS opened at $14.40 on Wednesday. The company has a market capitalization of $484.85 million, a price-to-earnings ratio of 2.66 and a beta of 1.84. Verso has a 1-year low of $9.92 and a 1-year high of $19.49. The business has a 50 day moving average price of $13.12 and a two-hundred day moving average price of $13.07.
Several analysts have issued reports on the stock. BWS Financial downgraded shares of Verso from a “strong-buy” rating to a “buy” rating and set a $29.50 target price on the stock. in a research note on Wednesday, June 10th. ValuEngine raised shares of Verso from a “hold” rating to a “buy” rating in a research note on Monday, June 15th. Finally, Zacks Investment Research raised shares of Verso from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, August 14th.
Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.
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