Dividend Coverage: This Energy Company has Paid Dividend for 301 Consecutive Quarters; Will Trade Ex-Dividend on November 13, 2017
LONDON, UK / ACCESSWIRE / November 10, 2017 / Pro-Trader Daily takes a closer look at WEC Energy Group, Inc. (NYSE: WEC) as the Company's stock will begin trading ex-dividend on November 13, 2017. In order 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 November 10, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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Dividend Declared
On October 19, 2017, WEC Energy's Board of Directors declared a quarterly cash dividend of $0.52 per share on the Company's common stock. The dividend is payable on December 01, 2017, to stockholders of record on November 14, 2017.
WEC Energy's indicated dividend represents a yield of 3.05%, which is substantially above the average dividend yield of 2.32% for the Utilities sector. This marks the 301st consecutive quarter – dating back to 1942 – that the Company will have paid a dividend to its stockholders.
Dividend Insights
WEC Energy has a dividend payout ratio of 67.3%, which indicates that the Company distributes approximately $0.67 for 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, WEC Energy is forecasted to report earnings of $3.29 for the next year, which is substantially above the Company's annualized dividend of $2.08 per share.
For the nine months ended September 30, 2017, WEC Energy's net cash provided by operating activities totaled $1.75 billion compared to $1.72 billion in the year-ago period. As of September 30, 2017, the Company had total cash and cash equivalents worth $18.1 million compared to $37.4 million as on December 31, 2016. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for WEC Energy
On October 31, 2017, the Wisconsin Electric's Board of Directors declared a quarterly cash dividend of $0.90 per share on the Company's Preferred Stock, 3.60% Series, payable December 01, 2017, to stockholders of record on November 14, 2017. The Board also declared a quarterly cash dividend of $1.50 a share on the Company's 6% preferred Stock, payable January 31, 2018, to stockholders of record on January 12, 2018.
Wisconsin Electric, doing business as We Energies, is a subsidiary of WEC Energy. The Company serves more than 1.1 million electric customers and more than 460,000 natural gas customers in Wisconsin.
About WEC Energy
WEC Energy, based in Milwaukee, is one of United States' premier energy companies, serving 4.4 million customers in Wisconsin, Illinois, Michigan, and Minnesota. The Company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. WEC Energy founded in 1981 has approximately $30 billion of assets, 8,500 employees, and 55,000 stockholders of record. The Company was formerly known as Wisconsin Energy Corp. and changed its name to WEC Energy Group, Inc. in June 2015.
Stock Performance
At the closing bell, on Thursday, November 09, 2017, WEC Energy's stock marginally rose 0.09%, ending the trading session at $68.23. A total volume of 1.47 million shares have exchanged hands. The Company's stock price surged 6.88% in the last three months, 12.24% in the past six months, and 21.34% in the previous twelve months. Moreover, the stock rallied 16.33% since the start of the year. The stock is trading at a PE ratio of 22.41 and has a dividend yield of 3.05%. The stock currently has a market cap of $21.53 billion.
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