Retail Supplier Parent Announces Increased Dividend
February 23, 2022 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Vistra announced today that its board of directors has declared a quarterly dividend of $0.17 per share of Vistra's common stock, reflecting an estimated aggregate payment of $75 million this quarter.
This represents a ~13% increase in the company's quarterly common stock dividend per share from its first quarter 2021 dividend.
The common dividend is payable on March 31, 2022, to common stockholders of record as of March 22, 2022. The ex-dividend date for the common dividend will be March 21, 2022.
"One of our four key strategic imperatives we identified in 2021 includes returning significant capital to our common shareholders through share repurchases and a meaningful and growing dividend," said Curt Morgan, chief executive officer of Vistra. "As previously announced, we expect to allocate $300 million per year, or approximately $75 million per quarter, toward our common dividend. As we further execute on our share buyback plan, this quarterly $75 million dividend allocation will be spread over fewer shares, which we expect will offer meaningful dividend yield growth for shareholders."
The board of directors also declared a semi-annual dividend on the Company's 8.0% Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock. The Series A dividend is $40.00 per preferred share, or $80.00 per share of Series A preferred stock on an annualized basis. The Series A dividend is payable on April 15, 2022, to Series A preferred stockholders of record as of April 1, 2022.