Westlake Chemical Partners LP (NYSE:WLKP) Shareholders to Get $0.47 Quarterly Dividend

Westlake Chemical Partners LP (NYSE:WLKP) announced a quarterly dividend on Monday, November 2nd. Shareholders of record on Friday, November 13th will be given a dividend of $0.4714 per share by the basic materials company on Tuesday, December 1st. This represents a $1.89 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date is Friday, November 13th.

Westlake Chemical Partners has a payout ratio of 92.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Westlake Chemical Partners to earn $1.70 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 110.6%.

Westlake Chemical Partners Stock Performance

NYSE:WLKP opened at $21.86 on Tuesday. The company has a market capitalization of $770.71 million, a P/E ratio of 13.41, a P/E/G ratio of 0.81 and a beta of 0.52. The business has a fifty day simple moving average of $21.38 and a two-hundred day simple moving average of $21.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.44 and a quick ratio of 3.36. Westlake Chemical Partners has a 1 year low of $17.75 and a 1 year high of $23.88.

Westlake Chemical Partners (NYSE:WLKP) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The firm had revenue of $297.10 million for the quarter, compared to analysts’ expectations of $537.00 million. Westlake Chemical Partners had a net margin of 4.66% and a return on equity of 7.25%. On average, analysts expect that Westlake Chemical Partners will post 1.50 earnings per share for the current year.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP (NYSE: WLKP) is a master limited partnership that owns, operates and acquires ethylene production assets. Ethylene is a basic petrochemical used in the manufacture of plastics, polymers and other industrial products.

The partnership’s operations are focused on ethylene production facilities in the United States, including assets in Louisiana and Kentucky. Its ethylene is sold primarily under long-term agreements to Westlake Corporation, its primary customer and sponsor, as well as to certain third-party customers.

Westlake Chemical Partners was formed in 2014 and became a publicly traded partnership that year.