VAALCO Energy, Inc. (NYSE:EGY) to Issue Quarterly Dividend of $0.06

VAALCO Energy, Inc. (NYSE:EGY) announced a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Investors of record on Friday, November 22nd will be paid a dividend of 0.0625 per share by the energy company on Friday, December 20th. This represents a $0.25 annualized dividend and a yield of 4.60%. The ex-dividend date is Friday, November 22nd.

VAALCO Energy has a payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect VAALCO Energy to earn $0.33 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 75.8%.

VAALCO Energy Price Performance

Shares of VAALCO Energy stock traded down $0.10 during midday trading on Tuesday, hitting $5.43. 1,379,303 shares of the company were exchanged, compared to its average volume of 982,614. The firm has a 50 day simple moving average of $5.76 and a 200-day simple moving average of $6.18. VAALCO Energy has a 52 week low of $4.00 and a 52 week high of $7.51. The firm has a market cap of $563.32 million, a P/E ratio of 6.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.19 and a quick ratio of 1.15.

About VAALCO Energy

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.