Vector Group Ltd. - VGR STOCK NEWS

Vector Group Ltd. (NYSE: VGR) has declared a quarterly cash dividend of $0.20 per share, payable on June 29, 2022. The dividend is for shareholders on record as of June 17, 2022. Vector Group operates as a holding company for Liggett Group LLC, Vector Tobacco LLC, and New Valley LLC. This announcement reflects the company's commitment to returning value to its shareholders.

Vector Group reported first quarter 2022 revenues of $312.0 million, a 15.1% increase year-over-year. The tobacco segment generated $309.0 million in revenue, with an 18.7% unit volume increase. Net income attributable to Vector was $32.5 million, or $0.21 per diluted share, up from $32.0 million or $0.20 per share the previous year. Operating income decreased slightly to $75.1 million. The company maintained strong liquidity with $238 million in cash and equivalents. A quarterly cash dividend of $0.20 per share was also returned to stockholders.

Vector Group Ltd. (NYSE: VGR) will host a conference call and webcast to review its first quarter results on May 10, 2022, at 8:30 a.m. (ET). Investors can join by calling 800-420-1271 and using the conference ID 43785, or by accessing the live webcast at here. A replay of the call will be available from May 10 to May 24, 2022, by calling 888-566-0161 and entering the same conference ID. For more information, visit www.VectorGroupLtd.com.

Vector Group Ltd. (NYSE: VGR) has declared a quarterly cash dividend of $0.20 per share, payable on March 30, 2022, to shareholders on record as of March 22, 2022. This reflects the company’s commitment to returning value to its shareholders through consistent dividend payments. Vector Group operates as a holding company for Liggett Group LLC, Vector Tobacco LLC, and New Valley LLC, indicating its diversified business interests.

Vector Group Ltd. reported strong financial results for Q4 and the full year ended December 31, 2021. Consolidated revenues reached $313.7 million, a 9% increase from the previous year, despite a full-year revenue decline to $1.22 billion, down 1%. Net income attributed to Vector Group was $45.3 million for Q4, and $219.5 million for the full year, with significant adjustments yielding improved earnings per share of $0.29 and $1.40 respectively. The tobacco segment demonstrated resilience, with operating income rising 13% to $360.3 million. Strong liquidity is highlighted by $193.4 million in cash and equivalents.

Vector Group will host a conference call and webcast on March 1, 2022, at 4:30 p.m. ET to discuss its fourth quarter and full-year 2021 results. Investors can participate by calling 800-420-1271 and entering conference ID 765218. Access is also available via a live webcast at this link. A replay of the call will be accessible from March 1 to March 15, 2022, by dialing 888-269-5324 with the same conference ID.

Douglas Elliman Inc. (NYSE: DOUG) has successfully completed its spin-off from Vector Group Ltd. (NYSE: VGR) and will begin trading independently on the NYSE under the symbol 'DOUG'. The company, a major player in the U.S. residential real estate market, boasts a robust balance sheet with $200 million in net cash and aims for growth through market expansion and technological advancements. As it stands alone, Douglas Elliman intends to leverage its competitive advantages and innovative services to thrive in high-demand luxury markets.

Vector Group has successfully completed the spin-off of Douglas Elliman Inc., which will commence trading on the NYSE under the symbol "DOUG" starting December 30, 2021. Each Vector Group stockholder will receive one share of Douglas Elliman for every two shares of Vector Group held as of December 20, 2021. The spin-off is structured to be tax-free for Vector Group stockholders for U.S. federal tax purposes. Vector Group will maintain its tobacco operations and continue to work on enhancing its brand portfolio for revenue growth.

Vector Group announced the effective declaration of the registration statement for the spin-off of Douglas Elliman Inc. on December 17, 2021. This allows holders of Vector Group common stock to receive one share of Douglas Elliman for every two shares they own as of the record date, December 20, 2021. Trading in both regular and ex-distribution markets will begin on December 17, with Douglas Elliman expected to trade under the symbol 'DOUG WI'. This spin-off is anticipated to qualify as tax-free for U.S. federal income tax purposes.