CVR Energy Inc. (NYSE:CVI) has declared a quarterly dividend of $0.37 per share, payable on March 9th to shareholders of record on March 2nd, resulting in an indicated yield of approximately 7.2%. Despite this, the dividend appears unsustainable given the company’s 679.7% payout ratio and reliance on its balance sheet for payments, with analysts forecasting a projected payout ratio of roughly 623% for next year. The company recently reported a quarterly EPS of ($0.80) on revenue of $1.81 billion, and analysts currently rate the stock as a “Strong Sell” with an average price target of $29.25.
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CVR Energy Inc. (NYSE:CVI) Declares $0.37 Quarterly Dividend
CVR Energy Inc. (NYSE:CVI) has declared a quarterly dividend of $0.37 per share, payable on March 9th to shareholders of record on March 2nd, resulting in an indicated yield of approximately 7.2%. Despite this, the dividend appears unsustainable given the company’s 679.7% payout ratio and reliance on its balance sheet for payments, with analysts forecasting a projected payout ratio of roughly 623% for next year. The company recently reported a quarterly EPS of ($0.80) on revenue of $1.81 billion, and analysts currently rate the stock as a “Strong Sell” with an average price target of $29.25.