Global Partners LP (NYSE:GLP – Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be paid a dividend of 0.71 per share by the energy company on Wednesday, May 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Wednesday, May 8th. This is a boost from Global Partners’s previous quarterly dividend of $0.70.
Global Partners has raised its dividend payment by an average of 12.2% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Global Partners has a dividend payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Global Partners to earn $4.46 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 62.8%.
Global Partners Price Performance
Shares of NYSE:GLP opened at $47.40 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.71 and a current ratio of 1.12. The firm has a fifty day moving average price of $46.27 and a 200 day moving average price of $41.10. Global Partners has a fifty-two week low of $27.07 and a fifty-two week high of $49.50. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 12.61 and a beta of 1.35.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of Global Partners from a “buy” rating to a “hold” rating in a research report on Tuesday.
Check Out Our Latest Stock Report on Global Partners
About Global Partners
Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.
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