Green Plains Partners LP (GPP) to Issue Quarterly Dividend of $0.12 on May 14th
Green Plains Partners LP (NASDAQ:GPP) announced a quarterly dividend on Thursday, April 22nd, Zacks reports. Stockholders of record on Friday, May 7th will be given a dividend of 0.12 per share by the transportation company on Friday, May 14th. This represents a $0.48 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Thursday, May 6th.
Green Plains Partners has decreased its dividend payment by 53.1% over the last three years and has raised its dividend every year for the last 1 years. Green Plains Partners has a dividend payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Green Plains Partners to earn $1.96 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 24.5%.
Shares of GPP opened at $12.15 on Tuesday. The company has a market capitalization of $281.98 million, a PE ratio of 6.94 and a beta of 0.84. Green Plains Partners has a 52 week low of $4.77 and a 52 week high of $13.74. The company’s 50 day moving average price is $12.29 and its 200 day moving average price is $9.86.
Several research firms recently weighed in on GPP. Zacks Investment Research raised shares of Green Plains Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 13th. Raymond James boosted their target price on shares of Green Plains Partners from $12.00 to $14.00 and gave the company a “strong-buy” rating in a research report on Friday, January 8th.
Green Plains Partners Company Profile
Green Plains Partners LP provides fuel storage and transportation services in the United States. It acquires, owns, develops, and operates ethanol and fuel storage facilities, terminals, transportation assets, and other related assets and businesses. The company owns or leases 31 ethanol storage facilities and approximately 44 acres of land; and six fuel terminals in Alabama, Arkansas, Louisiana, Mississippi, Kentucky, and Oklahoma.
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