Berry Co. (NASDAQ:BRY) to Issue Quarterly Dividend of $0.03

Berry Co. (NASDAQ:BRY) announced a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Shareholders of record on Saturday, March 22nd will be given a dividend of 0.03 per share by the energy company on Tuesday, April 1st. This represents a $0.12 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, March 21st.

Berry has raised its dividend by an average of 17.0% per year over the last three years. Berry has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Berry to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 19.7%.

Berry Stock Up 2.1 %

Shares of BRY opened at $3.41 on Wednesday. The stock has a fifty day simple moving average of $4.25 and a two-hundred day simple moving average of $4.58. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $262.36 million, a PE ratio of 3.16 and a beta of 1.67. Berry has a 52-week low of $3.06 and a 52-week high of $8.88.

Berry (NASDAQ:BRY) last posted its quarterly earnings data on Wednesday, March 12th. The energy company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.12 by $0.09. The business had revenue of $167.06 million during the quarter, compared to analyst estimates of $173.00 million. Berry had a net margin of 9.40% and a return on equity of 6.50%. As a group, equities analysts forecast that Berry will post 0.58 EPS for the current year.

Berry Company Profile

Berry Petroleum Company, LLC., formerly Berry Petroleum Company, is an independent energy company. The Company is engaged in the production, development, exploitation, and acquisition of oil and natural gas. The Company’s principal reserves and producing properties are located in California (South Midway-Sunset (SMWSS)-Steam Floods, North Midway-Sunset (NMWSS)-Diatomite, NMWSS-New Steam Floods, Texas (Permian and E.