Global Partners LP (NYSE:GLP) Announces Dividend Increase – $0.79 Per Share

Global Partners LP (NYSE:GLP) declared a quarterly dividend on Thursday, October 29th. 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 annualized dividend and a yield of 6.5%. 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 raised its dividend every year for the last 5 years. Global Partners has a dividend payout ratio of 103.0% 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 $3.12 annual dividend with an expected future payout ratio of 81.9%.

Global Partners Stock Up 1.5%

NYSE:GLP opened at $47.99 on Friday. The business’s fifty day moving average price is $49.53 and its 200 day moving average price is $47.95. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 9.77 and a beta of 1.11. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 2.44. Global Partners has a 1-year low of $39.58 and a 1-year high of $54.29.

Global Partners (NYSE:GLP) last posted its quarterly earnings results on Friday, August 7th. The energy company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.62. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $7.51 billion. Global Partners had a net margin of 0.91% and a return on equity of 30.87%. On average, sell-side analysts forecast that Global Partners will post 6.02 earnings per share 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.