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, 2021, to stockholders of record as of June 16, 2021. This announcement signifies the company's ongoing commitment to returning value to its shareholders. As a holding company, Vector Group operates multiple subsidiaries, including Liggett Group LLC and Douglas Elliman Realty, enhancing its diverse portfolio.

Douglas Elliman, a leading independent residential real estate brokerage in the U.S., announces the launch of MyDouglas, a new single sign-on portal, and an enhanced StudioPro application powered by Rechat. MyDouglas is a customizable, mobile-friendly platform that consolidates agent resources, offering tools for business management, financial analyses, and marketing. The rollout will begin in May 2021, providing agents with access to exclusive content as they grow their business. MyDouglas emphasizes personalization and transparency, integrating external partner services for improved operations.

Vector Group Ltd. (NYSE:VGR) reported strong financial results for Q1 2021, with revenues of $543.8 million, up from $454.5 million in Q1 2020. The company achieved an operating income of $90.2 million, compared to an operating loss last year. Net income reached $32.0 million, or $0.20 per diluted share, reversing a net loss of $3.2 million in Q1 2020. The tobacco segment saw revenues drop to $268.5 million, while the real estate segment surged to $275.3 million, with Douglas Elliman alone generating $272.8 million. The company maintained solid liquidity with $382 million in cash.

Vector Group Ltd. (NYSE: VGR) will hold a conference call and webcast on May 6, 2021, at 8:30 a.m. (ET) to discuss its first quarter 2021 results. Investors can join the call by dialing 877-271-1828 and using conference ID 67447259. The call will also be available via live webcast at this link. A replay of the call can be accessed from May 6 to May 20, 2021, by calling 877-656-8905 with the same conference ID. For more details about Vector Group, visit www.VectorGroupLtd.com.

Vector Group Ltd. (NYSE: VGR) has announced an investment through New Valley Ventures in Humming Homes, a New York-based PropTech company. Humming Homes aims to simplify homeownership with its tech-enabled home management service, offering a dedicated team for in-person support and 24/7 availability. As millennials increasingly enter the housing market, New Valley Ventures sees potential in evolving home management solutions. Humming Homes plans to expand services to additional markets, including areas in Connecticut and Florida.

Vector Group Ltd. (NYSE: VGR) announced a quarterly cash dividend of $0.20 per share, payable on March 30, 2021. Shareholders on record as of March 19, 2021 will receive this dividend, reflecting the company's ongoing commitment to returning value to its investors. Vector Group operates primarily through its subsidiaries, including Liggett Group LLC and Douglas Elliman Realty, enhancing its investment appeal.

Vector Group Ltd. (NYSE: VGR) has launched New Valley Ventures, an investment vehicle aimed at next-generation technologies in the PropTech sector. This initiative includes acquiring a stake in Rechat, a fully-mobile technology dashboard for real estate agents. New Valley Ventures plans to support PropTech startups, emphasizing agent productivity through innovation. The venture will leverage expertise from Douglas Elliman, the largest residential real estate brokerage in NY, enhancing agent experiences with technology-driven solutions. The rollout of Rechat will commence in the first half of 2021.

Vector Group Ltd. (NYSE:VGR) reported strong fourth quarter and full-year results for 2020. Revenues in Q4 increased to $554.6 million, up from $439.6 million in 2019, with operating income at $87.3 million compared to $45.6 million a year earlier. Net income for Q4 reached $32.3 million, or $0.21 per share, up from $10.7 million. For the full year, revenues rose to $2.003 billion, with net income at $92.9 million, or $0.60 per share. The tobacco segment showed strong performance, contributing significantly to the results, while real estate operations improved but reported a net loss for the year.

Vector Group Ltd. (NYSE: VGR) will host a conference call and webcast on February 25, 2021, at 8:30 a.m. ET to discuss its fourth quarter and full-year 2020 results.

Investors can join the call by dialing 877-271-1828, using conference ID 32496685. A live webcast will also be available at this link.

A replay will be accessible from February 25 to March 11, 2021, by calling 877-656-8905 and entering the same conference ID. The archived webcast can be found at the provided link.