Vector Group Ltd (VGR) to Issue Quarterly Dividend of $0.40

Vector Group Ltd (NYSE:VGR) declared a quarterly dividend on Wednesday, November 28th, Wall Street Journal reports. Shareholders of record on Tuesday, December 18th will be paid a dividend of 0.40 per share on Friday, December 28th. This represents a $1.60 annualized dividend and a yield of 15.43%. The ex-dividend date is Monday, December 17th.

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. Equities analysts expect Vector Group to earn $0.68 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 235.3%.

Shares of NYSE VGR opened at $10.37 on Friday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 23.32 and a beta of 0.27. Vector Group has a 12 month low of $10.30 and a 12 month high of $22.87.

Vector Group (NYSE:VGR) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The company had revenue of $513.90 million for the quarter, compared to the consensus estimate of $495.70 million. Vector Group had a negative return on equity of 16.61% and a net margin of 4.29%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. On average, equities analysts anticipate that Vector Group will post 0.52 earnings per share for the current year.

In other news, insider Howard M. Lorber sold 700,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $14.18, for a total transaction of $9,926,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Phillip Md Et Al Frost sold 765,000 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $13.00, for a total value of $9,945,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,872,029 shares of company stock worth $51,288,002. 12.50% of the stock is currently owned by company insiders.

Several research analysts have commented on VGR shares. Oppenheimer reaffirmed a “market perform” rating on shares of Vector Group in a research report on Wednesday, October 3rd. Zacks Investment Research downgraded Vector Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. Finally, UBS Group downgraded Vector Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 3rd.

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Vector Group Company Profile

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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Dividend History for Vector Group (NYSE:VGR)

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