Vermilion Energy Inc. (NYSE:VET) to Issue Dividend Increase – $0.09 Per Share

Vermilion Energy Inc. (NYSE:VET) (TSE:VET) announced a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.0903 per share by the oil and gas company on Tuesday, April 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Monday, March 31st. This is a 1.4% increase from Vermilion Energy’s previous quarterly dividend of $0.09.

Vermilion Energy has a payout ratio of -63.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Vermilion Energy to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 65.5%.

Vermilion Energy Price Performance

Shares of VET opened at $8.16 on Friday. The stock has a market cap of $1.26 billion, a P/E ratio of -2.18 and a beta of 1.91. Vermilion Energy has a 1 year low of $7.09 and a 1 year high of $12.79. The stock’s 50-day moving average price is $8.71 and its two-hundred day moving average price is $9.39. The company has a current ratio of 1.25, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VET shares. StockNews.com cut Vermilion Energy from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Atb Cap Markets lowered shares of Vermilion Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Desjardins downgraded shares of Vermilion Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 18th.

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.