Vectren Corp (NYSE:VVC) declared a quarterly dividend on Wednesday, August 1st, RTT News reports. Shareholders of record on Wednesday, August 15th will be given a dividend of 0.45 per share by the utilities provider on Tuesday, September 4th. This represents a $1.80 annualized dividend and a yield of 2.53%. The ex-dividend date is Tuesday, August 14th.
Vectren has raised its dividend by an average of 5.4% per year over the last three years and has increased its dividend annually for the last 58 consecutive years. Vectren has a dividend payout ratio of 62.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Vectren to earn $3.06 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 58.8%.
Vectren stock traded down $0.06 during mid-day trading on Friday, hitting $71.20. The company’s stock had a trading volume of 676,400 shares, compared to its average volume of 698,028. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.71. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 3.55 and a beta of 0.52. Vectren has a twelve month low of $58.00 and a twelve month high of $71.74.
Separately, Zacks Investment Research lowered shares of Vectren from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $66.00.
Vectren Corporation provides energy delivery services to residential, commercial, and industrial and other contract customers. The company offers natural gas distribution and transportation services, and electric transmission and distribution services; and owns and operates coal-fired, natural gas or oil-fired, and landfill gas electric generating facilities with an installed generating capacity of 1,248 megawatts.
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