Global Partners LP (GLP) to Distribute Quarterly Dividend of $0.78 on August 14th

Global Partners LP (NYSE:GLP) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Monday, August 10th will be given a dividend of 0.78 per share by the energy company on Friday, August 14th. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date is Monday, August 10th. This is a 2.0% increase from Global Partners’s previous quarterly dividend of $0.77.

Global Partners has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 5 years. Global Partners has a dividend payout ratio of 101.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Partners to earn $3.71 per share next year, which means the company should continue to be able to cover its $3.06 annual dividend with an expected future payout ratio of 82.5%.

Global Partners Stock Up 1.0%

Global Partners stock opened at $48.94 on Friday. Global Partners has a 1-year low of $39.58 and a 1-year high of $53.25. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 13.59 and a beta of 1.02. The firm’s fifty day moving average price is $47.61 and its two-hundred day moving average price is $47.13. The company has a current ratio of 1.12, a quick ratio of 0.64 and a debt-to-equity ratio of 2.58.

Global Partners (NYSE:GLP) last posted its earnings results on Friday, May 8th. The energy company reported $1.85 EPS for the quarter, topping the consensus estimate of $0.33 by $1.52. Global Partners had a net margin of 0.77% and a return on equity of 24.23%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $6.98 billion. On average, equities research analysts predict that Global Partners will post 4.71 earnings per share for the current fiscal 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.