Vector Group Ltd (NYSE:VGR) announced 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 dividend on an annualized basis and a yield of 15.43%. The ex-dividend date of this dividend is Monday, December 17th.

Vector Group has a dividend payout ratio of 390.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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. Vector Group has a one year low of $10.30 and a one year high of $22.87. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 23.32 and a beta of 0.27.

Vector Group (NYSE:VGR) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. Vector Group had a negative return on equity of 16.61% and a net margin of 4.29%. The firm had revenue of $513.90 million during the quarter, compared to analyst estimates of $495.70 million. During the same period last year, the company posted $0.15 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts predict that Vector Group will post 0.52 earnings per share for the current fiscal year.

A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Vector Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Oppenheimer restated a “hold” rating on shares of Vector Group in a research report on Wednesday, November 7th. Finally, UBS Group lowered Vector Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 3rd.

In other news, Director Bennett S. Lebow sold 100,000 shares of Vector Group stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $12.47, for a total transaction of $1,247,000.00. Following the completion of the sale, the director now directly owns 1,595,306 shares in the company, valued at approximately $19,893,465.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bennett S. Lebow sold 400,000 shares of Vector Group stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $11.78, for a total value of $4,712,000.00. Following the sale, the director now owns 1,395,306 shares of the company’s stock, valued at $16,436,704.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,872,029 shares of company stock valued at $51,288,002. 12.50% of the stock is owned by corporate insiders.

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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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