Dividend aristocrat VF Corporation (Ticker: VFC) is increasing its quarterly dividend by 12%, as reported on Friday. VF Corp. declares $0.48 per share quarterly dividend, 11.6% increase from prior dividend of $0.43. The next payout will be on December 20, 2019 (Record day: December 10, 2019). This is a dividend increase for the 48th consecutive year, close to making it to the Dividend King status (50 years). The 3 years dividend growth rate (DGR) is currently 11.83%, which is considered to be as fast for a dividend aristocrat. Members can use the DGR-screener.
Based on the $0.48, $ 1.92 will be distributed for the full year. This corresponds to a current dividend yield of 2.27% at the current market price of $ 84.15 (as of October 25, 2019). Year-to-date the VFC stock is up 17.96% and the current market capitalization is $ 33.5 billion.
In the third quarter of the fiscal year 2019, adjusted revenues increased 6 percent to $ 3.4 billion, as reported on Friday by VF Corp.. Profit increased 28 percent to $ 649 million. For the current fiscal year, sales are expected to increase by 6 percent to 11.8 billion US dollars. Full-year fiscal 2020 adjusted earnings per share from continuing operations still expected to be in the range of $3.32 to $3.37, reflecting growth of 16%-18%.