Genie Energy Ltd (NYSE:GNE) announced a quarterly dividend on Friday, March 9th, Wall Street Journal reports. Investors of record on Monday, March 19th will be paid a dividend of 0.075 per share by the oil and gas producer on Friday, March 23rd. This represents a $0.30 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date is Friday, March 16th.
Genie Energy has increased its dividend by an average of 71.0% annually over the last three years and has increased its dividend every year for the last 3 years.
Shares of Genie Energy (NYSE GNE) opened at $5.00 on Friday. Genie Energy has a 1 year low of $4.09 and a 1 year high of $8.31. The company has a quick ratio of 1.60, a current ratio of 1.70 and a debt-to-equity ratio of 0.05.
A hedge fund recently raised its stake in Genie Energy stock. State Street Corp boosted its stake in Genie Energy Ltd (NYSE:GNE) by 21.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,427 shares of the oil and gas producer’s stock after acquiring an additional 31,379 shares during the period. State Street Corp owned about 0.78% of Genie Energy worth $1,375,000 as of its most recent SEC filing. 19.78% of the stock is currently owned by hedge funds and other institutional investors.
About Genie Energy
Genie Energy Ltd. (Genie) owns interest in its subsidiary, Genie Energy International Corporation, which owns Genie Retail Energy and Genie Oil and Gas, Inc The Company operates through three segments: Genie Retail Energy (GRE), Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas (GOGAS). The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc and Residents Energy, Inc, and energy brokerage and marketing services.
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