Vermilion Energy Inc. (NYSE:VET) Raises Dividend to C$0.14 Per Share

Vermilion Energy Inc. (NYSE:VET) (TSE:VET) declared a quarterly dividend on Wednesday, March 4th. Shareholders of record on Friday, March 13th will be given a dividend of 0.135 per share by the oil and gas company on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, March 13th. This is a 3.8% increase from Vermilion Energy’s previous quarterly dividend of $0.13.

Vermilion Energy has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 3 years. Vermilion Energy has a payout ratio of -139.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Vermilion Energy to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.39 annual dividend with an expected future payout ratio of 70.9%.

Vermilion Energy Price Performance

Shares of NYSE:VET traded up $0.14 on Wednesday, hitting $11.64. The stock had a trading volume of 1,203,122 shares, compared to its average volume of 2,020,222. Vermilion Energy has a twelve month low of $5.14 and a twelve month high of $12.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.76 and a current ratio of 0.84. The firm’s 50 day moving average price is $9.75 and its 200-day moving average price is $8.68. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -3.80 and a beta of 0.61.

Vermilion Energy (NYSE:VET) (TSE:VET) last announced its earnings results on Wednesday, March 4th. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.33. Vermilion Energy had a negative net margin of 34.30% and a positive return on equity of 3.80%. The business had revenue of $334.64 million during the quarter, compared to analysts’ expectations of $384.74 million. On average, equities research analysts predict that Vermilion Energy will post 0.22 earnings per share for the current year.

About Vermilion Energy

Vermilion Energy Inc is a Canadian-based international oil and gas producer headquartered in Calgary, Alberta. Established in 1994, the company focuses on the exploration, development and production of crude oil and natural gas reserves through its wholly owned and joint venture assets. Vermilion’s upstream operations target a balance of oil and gas projects across various regions, with an emphasis on high-quality resource plays that can deliver stable cash flow and long-term reserves replacement.

Vermilion’s product portfolio includes light and medium crude oil, heavy oil, natural gas and natural gas liquids (NGLs).