CVR Partners, LP (NYSE:UAN) Raises Dividend to $1.75 Per Share

CVR Partners, LP (NYSE:UAN) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 1.75 per share by the basic materials company on Monday, March 10th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from CVR Partners’s previous quarterly dividend of $1.19.

CVR Partners has raised its dividend by an average of 12.9% annually over the last three years.

CVR Partners Stock Performance

Shares of NYSE:UAN traded up $1.23 on Wednesday, reaching $80.16. The company’s stock had a trading volume of 47,088 shares, compared to its average volume of 32,393. The stock’s 50-day moving average is $78.34 and its two-hundred day moving average is $73.44. CVR Partners has a 52-week low of $61.62 and a 52-week high of $88.94. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.15 and a quick ratio of 1.44. The stock has a market capitalization of $1.37 billion, a P/E ratio of 16.13 and a beta of 1.35.

CVR Partners (NYSE:UAN) last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter. CVR Partners had a net margin of 9.97% and a return on equity of 17.65%. The business had revenue of $139.56 million for the quarter.

Insider Transactions at CVR Partners

In other news, major shareholder Carl C. Icahn purchased 2,851 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $74.84 per share, for a total transaction of $213,368.84. Following the completion of the purchase, the insider now directly owns 144,695 shares in the company, valued at $10,828,973.80. The trade was a 2.01 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 23,855 shares of company stock worth $1,777,923 over the last ninety days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of CVR Partners from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th.

About CVR Partners

CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer products in the United States. The company offers ammonia products for agricultural and industrial customers; and urea ammonium nitrate products to agricultural customers, as well as retailers and distributors.