Ovintiv Inc. (OVV) to Issue Quarterly Dividend of $0.30 on March 31st

Ovintiv Inc. (NYSE:OVV) declared a quarterly dividend on Monday, February 23rd. Shareholders of record on Friday, March 13th will be given a dividend of 0.30 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, March 13th.

Ovintiv has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Ovintiv has a dividend payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ovintiv to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 22.3%.

Ovintiv Stock Performance

NYSE:OVV opened at $52.93 on Wednesday. Ovintiv has a 1 year low of $29.80 and a 1 year high of $54.40. The firm has a 50 day moving average of $44.85 and a 200-day moving average of $41.49. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $15.00 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 2.91 and a beta of 0.69.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.41. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm posted ($0.23) EPS. As a group, sell-side analysts anticipate that Ovintiv will post 5.59 EPS for the current fiscal year.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.