Comp En De Mn Cemig ADS (NYSE:CIG) Plans $0.03 Special Dividend

Comp En De Mn Cemig ADS (NYSE:CIG) declared a special dividend on Thursday, December 18th. Stockholders of record on Monday, December 29th will be given a dividend of 0.0264 per share by the utilities provider on Wednesday, January 7th. The ex-dividend date of this dividend is Monday, December 29th.

Comp En De Mn Cemig ADS has increased its dividend by an average of 0.3%annually over the last three years. Comp En De Mn Cemig ADS has a payout ratio of 68.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Comp En De Mn Cemig ADS to earn $0.23 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 65.2%.

Comp En De Mn Cemig ADS Price Performance

CIG traded down $0.01 during trading on Friday, reaching $1.98. 4,001,133 shares of the company were exchanged, compared to its average volume of 2,873,485. The company’s 50-day moving average is $2.07 and its two-hundred day moving average is $1.99. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 9.88 and a beta of 0.95. Comp En De Mn Cemig ADS has a 12-month low of $1.59 and a 12-month high of $2.30. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.45.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

A number of institutional investors have recently added to or reduced their stakes in CIG. Investment Research Partners LLC purchased a new position in shares of Comp En De Mn Cemig ADS in the 3rd quarter worth approximately $72,000. United Capital Financial Advisors LLC grew its holdings in Comp En De Mn Cemig ADS by 1.2% during the 3rd quarter. United Capital Financial Advisors LLC now owns 2,271,963 shares of the utilities provider’s stock worth $4,794,000 after acquiring an additional 25,907 shares in the last quarter. Mariner LLC lifted its holdings in Comp En De Mn Cemig ADS by 68.6% during the third quarter. Mariner LLC now owns 162,015 shares of the utilities provider’s stock worth $342,000 after buying an additional 65,902 shares during the period. Millennium Management LLC grew its stake in Comp En De Mn Cemig ADS by 27.4% in the third quarter. Millennium Management LLC now owns 1,471,400 shares of the utilities provider’s stock valued at $3,105,000 after purchasing an additional 316,782 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in Comp En De Mn Cemig ADS during the third quarter valued at approximately $110,000.

About Comp En De Mn Cemig ADS

Companhia Energética de Minas Gerais SA (Cemig ADS) is a leading Brazilian energy company primarily engaged in the generation, transmission, distribution and commercialization of electric power. Headquartered in Belo Horizonte, the company operates as a vertically integrated utility, serving residential, commercial and industrial customers across its concession areas. In addition to its core electricity business, Cemig maintains interests in natural gas distribution and distinct energy-related ventures, including renewable sources and infrastructure projects.

In its generation segment, Cemig manages a diversified portfolio that includes hydroelectric, photovoltaic and wind power plants.