Global Partners LP (GLP) to Issue Quarterly Dividend of $0.79 on November 13th

Global Partners LP (NYSE:GLP) announced a quarterly dividend on Wednesday, October 28th. Investors of record on Monday, November 9th will be given a dividend of $0.7850 per share by the energy company on Friday, November 13th. This represents a $3.14 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Monday, November 9th. This is a 0.6% increase from Global Partners’s previous quarterly dividend of $0.78.

Global Partners has increased 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 dividend payout ratio of 103.6% 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 $3.81 per share next year, which means the company should continue to be able to cover its $3.14 annual dividend with an expected future payout ratio of 82.4%.

Global Partners Price Performance

GLP opened at $44.13 on Friday. Global Partners has a twelve month low of $39.58 and a twelve month high of $54.29. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 2.44. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 8.99 and a beta of 1.10. The company has a fifty day simple moving average of $48.87 and a 200 day simple moving average of $47.97.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Friday, November 6th. The energy company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.35). The company had revenue of $6.68 billion for the quarter, compared to analyst estimates of $7.41 billion. Global Partners had a net margin of 0.91% and a return on equity of 30.87%. Equities research analysts expect that Global Partners will post 6.02 EPS for the current fiscal year.

Global Partners Company Profile

Global Partners LP (NYSE: GLP) is an integrated energy company that owns, supplies, stores, transports and markets energy products. The company’s activities include the wholesale distribution of gasoline, diesel, distillates, residual oil, renewable fuels and other petroleum products, as well as the terminaling and storage of these products.

Global Partners serves customers primarily across the northeastern and mid-Atlantic United States. Its wholesale operations supply gasoline stations, commercial and industrial users, utilities, distributors and other energy customers.