Vector Group Ltd. - VGR STOCK NEWS

Vector Group Ltd. (NYSE: VGR) has declared a quarterly cash dividend of $0.20 per share, payable on December 20, 2021. Shareholders of record as of December 10, 2021 will receive this dividend. Vector Group is a holding company comprising several subsidiaries, including Liggett Group and Douglas Elliman Realty. This dividend announcement reflects the company's commitment to returning value to its shareholders.

Vector Group Ltd. (NYSE: VGR) announced Douglas Elliman Inc. plans to file a Form 10 registration statement to become a standalone, publicly traded company. Douglas Elliman, a major player in the U.S. residential brokerage market, aims for profitable growth via technology expansion and strategic investments. The spin-off, expected to be completed in late Q4 2021, will allow both Douglas Elliman and Vector Group to focus on their respective business strategies. Post-spin-off, Douglas Elliman's stock will trade under the symbol 'DOUG', while VGR will continue trading under 'VGR'.

Vector Group Ltd. (NYSE: VGR) reported third quarter 2021 revenues of $652.6 million, a 19% increase year-over-year. The real estate segment saw a remarkable 55% revenue growth, while Douglas Elliman achieved record closed sales volume of $12.6 billion, up 62%. Net income attributable to Vector Group was $48.9 million, or $0.32 per diluted share. Operating income increased to $107.5 million. The company maintains strong liquidity, with cash and equivalents of $524 million. Additionally, Vector announced plans to spin off Douglas Elliman into a separate publicly traded entity.

Vector Group Ltd. (NYSE: VGR) is set to hold a conference call and webcast to discuss its third quarter 2021 results on November 8, 2021, at 5:00 p.m. ET. Investors can join the call by dialing 877-271-1828 with conference ID 43234619, or via the live webcast at this link. A replay will be available from November 8 through November 22 via the same dial-in number. For more details, visit www.VectorGroupLtd.com.

On September 21, 2021, Vector Group (NYSE: VGR) announced a strategic investment in Bilt Rewards through its investment vehicle, New Valley Ventures. This partnership facilitates a renter rewards program at Douglas Elliman, allowing renters to earn points on rent payments with no fees. The Bilt Mastercard enables additional rewards for renters, promoting financial success and potential homeownership. Bilt Rewards has partnered with prominent real estate players and offers various benefits, including credit reporting on rent payments to help build credit history.

Vector Group Ltd. (NYSE: VGR) has declared a quarterly cash dividend of $0.20 per share, payable on September 29, 2021, to shareholders on record as of September 15, 2021. This announcement reflects the company's commitment to returning value to its shareholders. Vector Group operates multiple subsidiaries, including Liggett Group LLC and Douglas Elliman Realty, showcasing its diverse business portfolio.

Vector Group Ltd. (NYSE: VGR) reported second quarter 2021 revenues of $729.5 million, up from $445.8 million a year prior, marking an all-time high. Operating income surged to $137.1 million versus $66.8 million in Q2 2020. Net income reached $93.3 million or $0.61 per diluted share, compared to $25.8 million or $0.16 per share previously. Its Tobacco segment showed strong performance with revenues of $329.5 million, while the Real Estate segment, led by Douglas Elliman, saw revenues soar 195% year-on-year. The company continues to provide quarterly dividends, returning $63 million to shareholders.

Douglas Elliman has promoted Scott Durkin to Chief Executive Officer, effective immediately, replacing Dottie Herman, who becomes Vice-Chair. Durkin, who has been with the company since 2015, will continue to lead operations, technology initiatives, and strategic growth. Under his leadership, the brokerage closed nearly $43 billion in sales in the past year. Herman commended Durkin's tenure and dedication, highlighting his role during the COVID-19 pandemic.

Vector Group Ltd. (NYSE: VGR) will host a conference call and webcast on Thursday, August 5, 2021, at 8:30 a.m. (ET) to discuss its second quarter 2021 results.

Investors can join by calling 877-271-1828 with the conference ID 18383182 or through a live webcast at this link. A replay will be available from August 5 to August 19, 2021, by dialing 877-656-8905 with the same conference ID. Additional information is accessible on the company's website: www.VectorGroupLtd.com.