Vectren Corp Declares Quarterly Dividend of $0.45 (VVC)

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.

Vectren (NYSE:VVC) last posted its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The firm had revenue of $644.00 million for the quarter, compared to analyst estimates of $688.00 million. Vectren had a net margin of 7.72% and a return on equity of 12.33%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. equities analysts predict that Vectren will post 2.87 EPS for the current fiscal year.

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.

About Vectren

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.

See Also: Asset Allocation

Dividend History for Vectren (NYSE:VVC)

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