Vectren Corp (NYSE:VVC) declared a quarterly dividend on Wednesday, April 12th. Shareholders of record on Monday, May 15th will be paid a dividend of 0.42 per share by the utilities provider on Thursday, June 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, May 11th.
Vectren Corp has raised its dividend by an average of 4.4% per year over the last three years and has increased its dividend every year for the last 57 years. Vectren Corp has a payout ratio of 64.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Vectren Corp to earn $2.80 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 60.0%.
Vectren Corp (NYSE:VVC) last announced its quarterly earnings results on Monday, May 8th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Vectren Corp had a net margin of 8.80% and a return on equity of 12.16%. The firm had revenue of $624.50 million during the quarter, compared to analysts’ expectations of $595.84 million. During the same period in the prior year, the company posted $0.58 EPS. The company’s revenue was up 6.8% on a year-over-year basis.
VVC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Vectren Corp from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, February 8th. Citigroup Inc increased their price objective on shares of Vectren Corp from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th.
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Vectren Corp Company Profile
Vectren Corporation (Vectren) is an energy holding company. The Company segregates its operations into groups, including the Utility Group, the Nonutility Group, and Corporate and Other. The Company’s subsidiary, Vectren Utility Holdings, Inc (Utility Holdings or VUHI), serves as the intermediate holding company for three public utilities: Indiana Gas Company, Inc (Indiana Gas), Southern Indiana Gas and Electric Company (SIGECO) and Vectren Energy Delivery of Ohio, Inc (VEDO).
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