Vector Group said on June 9, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.
Shareholders of record as of June 20, 2023 will receive the payment on June 29, 2023.
At the current share price of $12.91 / share, the stock's dividend yield is 6.20%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.84%, the lowest has been 4.63%, and the highest has been 16.37%. The standard deviation of yields is 3.20 (n=236).
The current dividend yield is 0.83 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.78. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 563 funds or institutions reporting positions in Vector Group. This is an increase of 18 owner(s) or 3.30% in the last quarter. Average portfolio weight of all funds dedicated to VGR is 0.13%, an increase of 13.06%. Total shares owned by institutions increased in the last three months by 1.07% to 118,622K shares. 
The put/call ratio of VGR is 0.57, indicating a bullish outlook.
Analyst Price Forecast Suggests 22.46% Upside
As of June 1, 2023, the average one-year price target for Vector Group is 15.81. The forecasts range from a low of 15.15 to a high of $16.80. The average price target represents an increase of 22.46% from its latest reported closing price of 12.91.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Vector Group is 1,467MM, an increase of 55.96%. The projected annual non-GAAP EPS is 1.30.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 9,571K shares representing 6.14% ownership of the company. In it's prior filing, the firm reported owning 9,751K shares, representing a decrease of 1.87%. The firm decreased its portfolio allocation in VGR by 3.42% over the last quarter.
Capital Research Global Investors holds 8,299K shares representing 5.32% ownership of the company. In it's prior filing, the firm reported owning 8,301K shares, representing a decrease of 0.02%. The firm decreased its portfolio allocation in VGR by 4.40% over the last quarter.
Renaissance Technologies holds 7,364K shares representing 4.72% ownership of the company. In it's prior filing, the firm reported owning 7,042K shares, representing an increase of 4.37%. The firm increased its portfolio allocation in VGR by 2.71% over the last quarter.
CAIBX - CAPITAL INCOME BUILDER holds 5,976K shares representing 3.83% ownership of the company. In it's prior filing, the firm reported owning 6,328K shares, representing a decrease of 5.89%. The firm increased its portfolio allocation in VGR by 6.66% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,107K shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 4,079K shares, representing an increase of 0.68%. The firm decreased its portfolio allocation in VGR by 5.85% over the last quarter.
Vector Group Background Information
(This description is provided by the company.)
Vector Group Ltd. is an American diversified holding company with two major businesses: Liggett Group LLC (tobacco) and New Valley LLC (real estate), including Douglas Elliman. Vector Group was previously called Brooke Group.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
