Viad Corp (VVI) to Issue Quarterly Dividend of $0.10 on October 1st

Viad Corp (NYSE:VVI) declared a quarterly dividend on Thursday, August 29th, NASDAQ reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.10 per share by the business services provider on Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Thursday, September 12th.

Viad has a payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Viad to earn $4.07 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 9.8%.

Shares of VVI traded up $0.13 during midday trading on Tuesday, hitting $64.81. The stock had a trading volume of 2,088 shares, compared to its average volume of 84,490. The stock’s 50 day moving average is $66.82 and its 200 day moving average is $62.54. The firm has a market cap of $1.30 billion, a PE ratio of 27.68 and a beta of 0.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.49 and a quick ratio of 0.45. Viad has a 1 year low of $46.17 and a 1 year high of $72.27.

Viad (NYSE:VVI) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.37 by $0.07. Viad had a net margin of 2.32% and a return on equity of 11.24%. The company had revenue of $402.30 million for the quarter, compared to the consensus estimate of $398.50 million. During the same period in the prior year, the firm posted $1.20 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts expect that Viad will post 2.69 earnings per share for the current fiscal year.

In other news, Director Robert E. Munzenrider sold 1,079 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $63.70, for a total transaction of $68,732.30. Following the transaction, the director now directly owns 19,025 shares of the company’s stock, valued at $1,211,892.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert E. Munzenrider sold 921 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $66.02, for a total transaction of $60,804.42. Following the transaction, the director now directly owns 20,104 shares in the company, valued at $1,327,266.08. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

A number of research analysts have recently commented on VVI shares. Zacks Investment Research raised Viad from a “hold” rating to a “strong-buy” rating and set a $80.00 target price on the stock in a research note on Friday, July 19th. ValuEngine downgraded Viad from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th.

Viad Company Profile

Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. It operates in two business groups, GES and Pursuit. The company offers event planning and production, look and feel design, layout and floor plan designs, furnishings and carpet, show traffic analysis, marketing and strategy, electrical distribution, cleaning, plumbing, overhead and booth rigging, and material handling services; and signage products and common area structures.

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Dividend History for Viad (NYSE:VVI)

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