Berry Co. (BRY) to Issue Quarterly Dividend of $0.03 on April 1st

Berry Co. (NASDAQ:BRY) announced a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Investors of record on Saturday, March 22nd will be paid a dividend of 0.03 per share by the energy company on Tuesday, April 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Friday, March 21st.

Berry has raised its dividend payment by an average of 17.0% annually over the last three years. Berry has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Berry to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 19.7%.

Berry Stock Up 2.1 %

Berry stock opened at $3.41 on Wednesday. Berry has a twelve month low of $3.06 and a twelve month high of $8.88. The stock has a 50 day moving average of $4.25 and a two-hundred day moving average of $4.58. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $262.36 million, a price-to-earnings ratio of 3.16 and a beta of 1.67.

Berry (NASDAQ:BRY) last posted its quarterly earnings data on Wednesday, March 12th. The energy company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. Berry had a return on equity of 6.50% and a net margin of 9.40%. The company had revenue of $167.06 million during the quarter, compared to analysts’ expectations of $173.00 million. As a group, research analysts expect that Berry will post 0.58 earnings per share for the current year.

About Berry

Berry Petroleum Company, LLC., formerly Berry Petroleum Company, is an independent energy company. The Company is engaged in the production, development, exploitation, and acquisition of oil and natural gas. The Company’s principal reserves and producing properties are located in California (South Midway-Sunset (SMWSS)-Steam Floods, North Midway-Sunset (NMWSS)-Diatomite, NMWSS-New Steam Floods, Texas (Permian and E.