Vector Group Ltd. (NYSE:VGR) to Issue Quarterly Dividend of $0.20

Vector Group Ltd. (NYSE:VGR - Get Free Report) declared a quarterly dividend on Tuesday, August 20th, Wall Street Journal reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.20 per share on Thursday, September 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Friday, August 30th.

Vector Group has a dividend payout ratio of 56.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Vector Group to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 63.5%.

Vector Group Price Performance

Shares of VGR stock traded up $1.14 during trading hours on Wednesday, reaching $15.13. 12,058,783 shares of the company's stock were exchanged, compared to its average volume of 1,277,938. The company has a market cap of $2.38 billion, a P/E ratio of 13.04 and a beta of 1.03. The company's 50 day moving average is $11.87 and its two-hundred day moving average is $11.12. Vector Group has a 1 year low of $9.27 and a 1 year high of $15.53.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VGR. StockNews.com raised Vector Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, July 25th. Barclays raised their price objective on Vector Group from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th.

Vector Group Company Profile

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20's, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.