Global Partners LP (NYSE:GLP) Declares Quarterly Dividend of $0.77

Global Partners LP (NYSE:GLP) announced a quarterly dividend on Thursday, April 30th. Shareholders of record on Monday, May 11th will be paid a dividend of 0.765 per share by the energy company on Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Monday, May 11th. This is a 0.7% increase from Global Partners’s previous quarterly dividend of $0.76.

Global Partners has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 5 years. Global Partners has a payout ratio of 100.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Partners to earn $3.24 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 93.8%.

Global Partners Price Performance

NYSE GLP opened at $47.95 on Friday. The stock’s 50-day moving average price is $46.60 and its two-hundred day moving average price is $45.17. The company has a current ratio of 1.14, a quick ratio of 0.63 and a debt-to-equity ratio of 2.74. The company has a market cap of $1.63 billion, a PE ratio of 22.73 and a beta of 1.04. Global Partners has a 1 year low of $39.58 and a 1 year high of $56.51.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Friday, February 27th. The energy company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.06). The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $6.94 billion. Global Partners had a return on equity of 15.99% and a net margin of 0.53%. On average, analysts predict that Global Partners will post 3.19 EPS for the current year.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.