Ex-Dividend Alert: SCANA has a Dividend Yield of 6.02%; Will Trade Ex-Dividend on March 09, 2018
LONDON, UK / ACCESSWIRE / March 8, 2018 / Active-Investors has a free review on SCANA Corp. (NYSE: SCG) following the Company's announcement that it will begin trading ex-dividend on March 09, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on March 08, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on SCG:
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Dividend Declared
On February 22, 2018, SCANA's Board of Directors declared a regular quarterly dividend of $0.6125 per share on the Company's common stock for the quarter ending March 31, 2018. The dividend is payable April 01, 2018, to shareholders of record at the close of business on March 12, 2018.
SCANA noted that the dividend for the first quarter of 2018 is consistent with the quarterly dividend rate for 2017 and permitted by the terms of the merger agreement with Dominion Energy.
SCANA's indicated dividend represents a yield of 6.02%, which is more than double compared to the average dividend yield of 2.63% for the Utilities sector. The Company has raised dividend for eighteen consecutive years.
Dividend Insight
SCANA has a dividend payout ratio of 79.8%, which denotes that the Company spends approximately $0.80 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, SCANA is forecasted to report earnings of $3.03 for the next year, which is comfortably higher than the Company's annualized dividend of $2.45 per share.
As of December 31, 2017, SCANA's cash and cash equivalents totaled $409 million compared to $208 million as on December 31, 2016. For the full-year 2017 the Company's net cash provided from operating activities was $1.17 billion compared to $1.09 billion for the year ago corresponding period. 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 SCANA
On February 01, 2018, Dominion Energy and SCANA announced that their proposed combination has cleared a key condition needed for completion. The Federal Trade Commission has granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act with regard to the combination.
The merger is also contingent upon approval of SCANA's shareholders; review and approval from the public service commissions of South Carolina, North Carolina, and Georgia; and authorization of the Nuclear Regulatory Commission and Federal Energy Regulatory Commission. The companies expect the transaction to close in 2018.
About SCANA Corp.
SCANA, headquartered in Cayce, South Carolina., is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses.
Stock Performance Snapshot
March 07, 2018 - At Wednesday's closing bell, SCANA's stock rose 1.66%, ending the trading session at $41.64.
Volume traded for the day: 1.48 million shares.
Stock performance in the last month - up 11.22%; and year-to-date - up 4.68%
After yesterday's close, SCANA's market cap was at $5.96 billion.
The stock has a dividend yield of 5.88%.
The stock is part of the Utilities sector, categorized under the Electric Utilities industry.
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