Verso Corp (NYSE:VRS) Plans Quarterly Dividend of $0.10
Verso Corp (NYSE:VRS) declared a quarterly dividend on Friday, August 7th, Wall Street Journal reports. Stockholders of record on Friday, September 18th will be paid a dividend of 0.10 per share by the basic materials company on Monday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, September 17th.
Verso has a dividend payout ratio of -25.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Verso to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 80.0%.
Shares of NYSE VRS opened at $14.40 on Wednesday. The company’s fifty day moving average is $13.12 and its 200-day moving average is $13.07. The stock has a market cap of $484.85 million, a price-to-earnings ratio of 2.66 and a beta of 1.84. Verso has a twelve month low of $9.92 and a twelve month high of $19.49.
A number of equities research analysts recently commented on VRS shares. Zacks Investment Research upgraded shares of Verso from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Friday, August 14th. BWS Financial cut shares of Verso from a “strong-buy” rating to a “buy” rating and set a $29.50 price objective for the company. in a research report on Wednesday, June 10th. Finally, ValuEngine upgraded shares of Verso from a “hold” rating to a “buy” rating in a research report on Monday, June 15th.
Verso Company Profile
Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.
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