CVR Energy Inc. (NYSE:CVI) Shareholders to Get $0.10 Quarterly Dividend

CVR Energy Inc. (NYSE:CVI) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Monday, November 16th will be given a dividend of $0.10 per share by the oil and gas company on Monday, November 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, November 16th.

CVR Energy has decreased its dividend payment by an average of 1.0% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. CVR Energy has a payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CVR Energy to earn $4.91 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 8.1%.

CVR Energy Price Performance

CVR Energy stock traded down $7.21 during trading hours on Tuesday, hitting $48.71. The stock had a trading volume of 3,249,871 shares, compared to its average volume of 1,131,693. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 71.63 and a beta of 0.90. CVR Energy has a 1-year low of $19.62 and a 1-year high of $63.51. The stock’s fifty day moving average is $52.63 and its two-hundred day moving average is $35.76.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $4.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $1.09. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 68.8% on a year-over-year basis. As a group, analysts predict that CVR Energy will post 4.20 earnings per share for the current fiscal year.

About CVR Energy

CVR Energy, Inc (NYSE:CVI) is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.