Vector Group Ltd (NYSE:VGR) Declares Quarterly Dividend of $0.40

Vector Group Ltd (NYSE:VGR) announced a quarterly dividend on Thursday, August 29th, NASDAQ reports. Stockholders of record on Tuesday, September 17th will be paid a dividend of 0.40 per share on Friday, September 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.77%. The ex-dividend date is Monday, September 16th.

Vector Group has a payout ratio of 390.2% 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 $0.43 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 372.1%.

NYSE VGR opened at $13.59 on Friday. Vector Group has a twelve month low of $8.62 and a twelve month high of $15.96. The firm has a market capitalization of $1.90 billion, a PE ratio of 18.52 and a beta of 0.69. The stock’s 50 day moving average is $11.77 and its 200 day moving average is $10.55.

Vector Group (NYSE:VGR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.19. Vector Group had a negative return on equity of 19.73% and a net margin of 4.55%. The company had revenue of $538.40 million for the quarter, compared to analyst estimates of $494.50 million. During the same period in the previous year, the company posted $0.19 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, research analysts predict that Vector Group will post 0.57 EPS for the current year.

VGR has been the topic of several research reports. ValuEngine upgraded Vector Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 31st. Zacks Investment Research upgraded Vector Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th.

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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Dividend History for Vector Group (NYSE:VGR)

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