LONDON, UK / ACCESSWIRE / February 09, 2018 / Active-Investors has a free review on Valero Energy Corp. (NYSE: VLO) following the Company's announcement that it will begin trading ex-dividend on February 12, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on February 09, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on VLO:
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Dividend Declared
On January 23, 2018, Valero's Board of Directors approved an increase in the Company's regular quarterly cash dividend on common stock from $0.70 per share to $0.80 per share. The Board has declared the effective quarterly dividend to be payable on March 06, 2018, to holders of record at the close of business on February 13, 2018.
Valero's indicated dividend represents a yield of 3.54%, which is substantially higher than the average dividend yield of 2.33% for the Basic Materials sector. The Company has raised dividend for seven consecutive years.
Dividend Insight
Valero has a dividend payout ratio of 44.0, which means that the Company spends approximately $0.44 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Valero is forecasted to report earnings of $7.99 for the next year, which is more than double compared to the Company's annualized dividend of $3.20 per share.
For fourth quarter of 2017 ended on December 31, 2017, Valero reported $8.9 billion of total debt and $5.9 billion of cash and temporary cash investments. In FY17, the Company returned $2.6 billion to stockholders, or 63% of adjusted net cash provided by operating activities, consisting of $1.4 billion in stock buybacks and $1.2 billion in dividends. Valero is targeting a total payout ratio between 40% and 50% of adjusted net cash provided by operating activities for 2018. The Company's balance sheet remains strong and is well positioned over the long-term to sustain its dividend distribution.
Earnings Announcement
On February 01, 2018, For Q4 2017 Valero posted operating revenue of $26.39 billion, as compared to $20.71 billion in Q4 2016.
Valero reported net income attributable to its stockholders of $2.4 billion, or $5.42 per share, for Q4 2017 compared to $367 million, or $0.81 per share, for Q4 2016. Excluding an income tax benefit of $1.9 billion, or $4.26 per share, that resulted from the Tax Cuts and Jobs Act of 2017 (Tax Reform), the Company's reported quarter adjusted net income attributable to Valero's stockholders was $509 million, or $1.16 per share.
About Valero Energy Corp.
Valero, through its subsidiaries, is an international manufacturer and marketer of transportation fuels and other petrochemical products. Valero is a Fortune 50 Company, based in San Antonio, Texas, with approximately 10,000 employees. It is an independent petroleum refiner and ethanol producer, and its assets include 15 petroleum refineries with a combined throughput capacity of approximately 3.1 million barrels per day and 11 ethanol plants with a combined production capacity of 1.4 billion gallons per year. Valero sells its products in both the wholesale rack and bulk markets, and approximately 7,400 outlets carry the Company's brand names in the US, Canada, the UK, and Ireland.
Stock Performance Snapshot
February 08, 2018 - At Thursday's closing bell, Valero Energy's stock fell 3.42%, ending the trading session at $86.77.
Volume traded for the day: 3.97 million shares, which was above the 3-month average volume of 3.28 million shares.
Stock performance in the last three-month - up 6.04%; previous six-month period - up 29.64%; and past twelve-month period - up 29.35%
After yesterday's close, Valero Energy's market cap was at $38.94 billion.
Price to Earnings (P/E) ratio was at 18.83.
The stock has a dividend yield of 3.69%.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Refining & Marketing industry.
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