Vermilion Energy Inc. (NYSE:VET) Raises Dividend to $0.09 Per Share

Vermilion Energy Inc. (NYSE:VET) (TSE:VET) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.089 per share by the oil and gas company on Wednesday, January 15th. This represents a $0.36 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Vermilion Energy’s previous quarterly dividend of $0.09.

Vermilion Energy has decreased its dividend payment by an average of 11.4% per year over the last three years. Vermilion Energy has a dividend payout ratio of 38.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Vermilion Energy to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 28.0%.

Vermilion Energy Price Performance

Shares of NYSE:VET opened at $10.05 on Friday. The firm’s 50 day moving average is $9.72 and its two-hundred day moving average is $10.65. Vermilion Energy has a 52 week low of $8.70 and a 52 week high of $13.49. The firm has a market capitalization of $1.57 billion, a P/E ratio of -2.69 and a beta of 2.00. The company has a current ratio of 1.09, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

Vermilion Energy (NYSE:VET) (TSE:VET) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.09). Vermilion Energy had a negative net margin of 41.53% and a positive return on equity of 6.24%. The firm had revenue of $359.27 million during the quarter, compared to analyst estimates of $364.54 million. Analysts anticipate that Vermilion Energy will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Separately, BMO Capital Markets lowered shares of Vermilion Energy from an “outperform” rating to a “market perform” rating in a research note on Friday, October 4th.

About Vermilion Energy

Vermilion Energy Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas. The company has properties in West Central Alberta, southeast Saskatchewan, Manitoba, and West Pembina in Canada; Wyoming in the United States; southwest Bordeaux and Paris Basin in France; the Netherlands; Germany; Ireland; Croatia; Slovakia; and Australia.