Global Partners LP (NYSE:GLP) Plans Quarterly Dividend of $0.71

Global Partners LP (NYSE:GLP) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be paid a dividend of 0.71 per share by the energy company on Wednesday, May 15th. This represents a $2.84 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend is Wednesday, May 8th. This is a boost from Global Partners’s previous quarterly dividend of $0.70.

Global Partners has increased its dividend payment by an average of 12.2% per year over the last three years and has raised its dividend every year for the last 4 years. Global Partners has a payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Global Partners to earn $4.46 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 62.8%.

Global Partners Price Performance

Shares of NYSE GLP opened at $47.40 on Friday. Global Partners has a twelve month low of $27.07 and a twelve month high of $49.50. The firm has a market cap of $1.60 billion, a P/E ratio of 12.61 and a beta of 1.35. The company has a 50 day moving average of $46.27 and a 200 day moving average of $41.22. The company has a quick ratio of 0.71, a current ratio of 1.12 and a debt-to-equity ratio of 2.02.

Global Partners (NYSE:GLP) last announced its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.45. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.39 billion. As a group, research analysts expect that Global Partners will post 3.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Global Partners from a “buy” rating to a “hold” rating in a research note on Tuesday.

Global Partners Company Profile

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.