CVR Energy Inc. (NYSE:CVI) Plans $0.10 Quarterly Dividend

CVR Energy Inc. (NYSE:CVI) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Monday, August 10th will be paid a dividend of 0.10 per share by the oil and gas company on Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 10th.

CVR Energy has decreased its dividend by an average of 1.0%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. CVR Energy has a dividend payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect CVR Energy to earn $1.48 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 27.0%.

CVR Energy Stock Performance

Shares of CVI stock opened at $34.80 on Thursday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.44 and a quick ratio of 0.89. The firm has a 50-day moving average of $31.36 and a 200-day moving average of $29.32. CVR Energy has a one year low of $19.62 and a one year high of $41.67. The company has a market cap of $3.50 billion, a P/E ratio of -80.92 and a beta of 0.83.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the company earned ($0.23) earnings per share. The firm’s revenue for the quarter was up 55.5% compared to the same quarter last year. Equities research analysts forecast that CVR Energy will post -0.21 EPS for the current fiscal year.

About CVR Energy

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.