Dividend Coverage: This Gas Company Has Paid Dividend for 166 Years; Will Trade Ex-Dividend on July 06, 2017
LONDON, UK / ACCESSWIRE / July 5, 2017 / Pro-Trader Daily takes a closer look at WGL Holdings, Inc. (NYSE: WGL) as the Company's stock will begin trading ex-dividend on July 06, 2017. In order to capture the dividend payout, investors must purchase the stock one day prior to the ex-dividend date that is by latest the end of trading session on July 05, 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 May 11, 2017, WGL Holdings declared a regular quarterly dividend of $0.5100 per share of its common stock. The quarterly dividend is payable on August 01, 2017, to shareholders of record as of July 10, 2017. Washington Gas Light Company, a utility subsidiary of WGL Holdings, declared regular dividends on all classes of its preferred stock, with a dividend of $1.0625 on the $4.25 Series; $1.20 on the $4.80 Series; and $1.25 on the $5.00 Series. Dividends on the utility's preferred stock also are payable on August 01, 2017, to shareholders of record as of July 10, 2017. The Company noted that it has been paying common stock dividends for 166 years.
WGL Holdings indicated dividend represents a yield of 2.45%, marginally lower compared to the average dividend yield for the Utilities sector of 2.48%. The Company has increased its dividend consecutively for the past 40 years.
Dividend Insights
WGL Holdings has a dividend payout ratio of 63.0% which reflects that the Company distributes approximately $0.63 for every $1.00 earned. The dividend payout ratio reflects how much money a Company is returning to shareholders versus how much it is keeping on hand to reinvest in growth, pay off debt, and/or add to its cash reserves.
According to analysts' estimates, WGL Holdings is expected to report earnings of $3.65 in the coming year, which again comfortably covers the Company's annualized dividend of $2.04.
As on March 31, 2017, WGL Holdings had cash and cash equivalents worth $7.46 million and its current assets totaled $1.00 billion, while current liabilities were $843.47 million. This strong financial position provides a cushion to the Company to absorb any fluctuations in earnings and pay its dividend without interruption.
About the Company
WGL, headquartered in Washington, D.C., is a leading source for clean, efficient, and diverse energy solutions. With activities and assets across the US, WGL consists of Washington Gas, WGL Energy, WGL Midstream, and Hampshire Gas. WGL provides natural gas, electricity, green power and energy services, including generation, storage, transportation, distribution, supply, and efficiency.
Recent Development for WGL Holdings
On May 24, 2017, Tecogen® Inc., a provider of clean energy products, which through patented technology, nearly eliminate criteria pollutants and significantly reduce customer's carbon footprint, announced an agreement with WGL Energy Systems (WGL Energy) to install seven Tecogen InVerde 100 e+ CHP modules at a large, multiunit residential complex in Manhattan, New York.
WGL Energy, which operates distributed generation systems in 19 states and the District of Columbia, will own the combined heat and power (CHP) system and sell the energy to the complex at a discounted rate from the existing electric utility. Tecogen will install commission and provide operations and maintenance services for the 700 kW CHP plant over a 20-year term. The system will also provide backup power to the complex in the event of a grid outage.
Stock Performance
At the closing bell, on Monday, July 03, 2017, WGL Holdings' stock marginally slipped 0.02%, ending the trading session at $83.41. A total volume of 76.72 thousand shares have exchanged hands. The Company's stock price surged 1.02% in the last three months, 9.35% in the past six months, and 18.09% in the previous twelve months. Moreover, the stock gained 9.35% since the start of the year. The stock is trading at a PE ratio of 24.66 and has a dividend yield of 2.45%. The stock currently has a market cap of $4.29 billion.
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