Valero Energy Corp (NYSE:VLO) recently declared a dividend of $1.07 per share, payable on March 3, 2024.
Valero VLO Quarterly Dividend Increase: Analysis and Financial Review
February 5, 2024
Explore Valero Energy Corporation’s latest quarterly earnings report, including dividend adjustments, segment performance, and financial highlights. Stay informed about US energy stocks with ProfitsForce. Read more>>
Valero Energy Corp: A Giant in Oil Refining
Valero Energy stands as one of the largest independent petroleum refining companies in the United States. With operations across 15 refineries totaling 3.2 million barrels per day in the US, Canada, and the UK, Valero holds a significant presence in the global energy market. Additionally, the company owns 12 ethanol plants producing 1.6 billion gallons annually and has a 50% stake in Diamond Green Diesel, capable of churning out 1.2 billion gallons of renewable diesel fuel per year.
A Brief Overview of Valero Energy’s Dividend History
Valero Energy Corp has been steadily paying dividends since 1997, distributing them quarterly. Moreover, since 2010, Valero has increased its dividends annually, earning recognition as a Dividend Aristocrat—a title reserved for companies that have hiked dividends annually for at least 14 consecutive years.
Current and Future Dividend Yields
As of now, Valero Energy Corp boasts a trailing twelve-month dividend yield of 2.97% and a forward dividend yield of 3.11%. These figures suggest an anticipation of increased dividend payouts in the next twelve months. Over the past three years, Valero has witnessed an average annual dividend growth rate of 2.9%, escalating to 7% annually over a five-year period, and a remarkable 20.9% over the last decade.
Earnings Growth Rates and Long-term Viability
Valero Energy’s impressive earnings per share growth rates over the past three years, averaging around 70.9% annually, underscore its ability to sustain dividends in the long run. This growth outpaces many competitors within the industry, highlighting Valero’s robust financial performance.
Consider Valero Energy Corp for Investment
With its consistent dividend payouts, upward trajectory in dividend growth rates, and strong earnings performance, Valero Energy Corp emerges as a compelling investment opportunity for those seeking stability and potential returns in their portfolios.
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